Wealthcare Advisory Partners LLC Has $464,000 Stock Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Wealthcare Advisory Partners LLC lifted its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 55.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,389 shares of the company’s stock after purchasing an additional 8,329 shares during the period. Wealthcare Advisory Partners LLC’s holdings in SoundHound AI were worth $464,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Carnegie Investment Counsel acquired a new stake in shares of SoundHound AI in the third quarter worth about $4,193,000. Geode Capital Management LLC lifted its holdings in SoundHound AI by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock worth $33,529,000 after purchasing an additional 602,311 shares during the last quarter. Oriental Harbor Investment Fund bought a new stake in SoundHound AI during the fourth quarter worth approximately $8,964,000. Shellback Capital LP acquired a new position in SoundHound AI during the second quarter valued at approximately $1,196,000. Finally, Squarepoint Ops LLC grew its holdings in SoundHound AI by 818.0% during the second quarter. Squarepoint Ops LLC now owns 231,168 shares of the company’s stock valued at $913,000 after purchasing an additional 205,985 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors.

SoundHound AI Trading Down 2.4 %

NASDAQ SOUN opened at $13.64 on Tuesday. SoundHound AI, Inc. has a 12 month low of $1.62 and a 12 month high of $24.98. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $14.14 and a 200-day moving average of $8.24. The company has a market cap of $5.04 billion, a PE ratio of -37.89 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm’s revenue for the quarter was up 88.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) EPS. On average, equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at SoundHound AI

In related news, CEO Keyvan Mohajer sold 465,394 shares of SoundHound AI stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $15.04, for a total value of $6,999,525.76. Following the transaction, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at $34,579,185.92. This trade represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence Marcus sold 20,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total value of $409,400.00. Following the sale, the director now owns 108,117 shares of the company’s stock, valued at approximately $2,213,154.99. This represents a 15.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,782,918 shares of company stock valued at $45,391,343 in the last quarter. Company insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

SOUN has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a report on Monday, January 13th. Barclays restated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. Northland Securities increased their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Finally, Wedbush upped their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.36.

SoundHound AI Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.