Charles Schwab Investment Management Inc. Purchases 143,487 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Charles Schwab Investment Management Inc. boosted its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,725,693 shares of the company’s stock after buying an additional 143,487 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.74% of SoundHound AI worth $54,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Commons Capital LLC increased its holdings in SoundHound AI by 2.7% during the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after buying an additional 723 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in shares of SoundHound AI by 33.2% in the fourth 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 period. Keynote Financial Services LLC increased its stake in shares of SoundHound AI by 4.7% in the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock worth $329,000 after buying an additional 752 shares during the period. Blue Trust Inc. boosted its holdings in SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after acquiring an additional 830 shares in the last quarter. Finally, Choreo LLC boosted its holdings in SoundHound AI by 7.6% in the fourth quarter. Choreo LLC now owns 14,424 shares of the company’s stock valued at $309,000 after acquiring an additional 1,015 shares in the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SOUN. Wedbush boosted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Northland Securities increased their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. DA Davidson upped their price target on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, SoundHound AI presently has an average rating of “Hold” and an average price target of $12.86.

Insider Buying and Selling at SoundHound AI

In related news, 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 completion of the transaction, the director now directly owns 108,117 shares in the company, valued at approximately $2,213,154.99. This represents a 15.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Zagorsek sold 138,906 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $17.63, for a total value of $2,448,912.78. Following the completion of the transaction, the chief operating officer now owns 1,473,322 shares of the company’s stock, valued at $25,974,666.86. The trade was a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 999,777 shares of company stock worth $20,062,443. 12.28% of the stock is currently owned by insiders.

SoundHound AI Stock Down 2.4 %

Shares of NASDAQ:SOUN opened at $8.91 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $13.05 and a two-hundred day moving average of $10.15. The stock has a market cap of $3.50 billion, a P/E ratio of -24.75 and a beta of 2.62. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). The firm had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. On average, research analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

About SoundHound AI

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.