Bleakley Financial Group LLC Decreases Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

Bleakley Financial Group LLC trimmed its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,787 shares of the company’s stock after selling 976 shares during the period. Bleakley Financial Group LLC’s holdings in SoundHound AI were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC lifted its holdings in SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in SoundHound AI during the 4th quarter worth about $40,000. ST Germain D J Co. Inc. lifted its holdings in SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after buying an additional 750 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in shares of SoundHound AI in the 4th quarter valued at about $64,000. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of SoundHound AI in the 4th quarter valued at about $129,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

SoundHound AI Stock Performance

SOUN opened at $13.97 on Thursday. The stock has a market cap of $5.49 billion, a P/E ratio of -38.81 and a beta of 2.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The stock’s 50 day simple moving average is $16.66 and its 200 day simple moving average is $9.41. SoundHound AI, Inc. has a 1-year low of $2.08 and a 1-year high of $24.98.

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

Wall Street Analysts Forecast Growth

SOUN has been the subject of several research reports. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Barclays reissued a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Northland Securities boosted their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a report on Monday, January 13th. Finally, Wedbush upped their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.36.

Insider Transactions at SoundHound AI

In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.03, for a total transaction of $240,900.00. Following the sale, the director now directly owns 110,907 shares of the company’s stock, valued at $890,583.21. The trade was a 21.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keyvan Mohajer sold 465,394 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the completion of the sale, the chief executive officer now owns 2,299,148 shares of the company’s stock, valued at $34,579,185.92. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock worth $45,391,343 over the last quarter. 12.28% of the stock is currently owned by insiders.

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.