International Assets Investment Management LLC Has $374,000 Position in SoundHound AI, Inc. (NASDAQ:SOUN)

International Assets Investment Management LLC increased its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 914.6% during the third quarter, Holdings Channel reports. The fund owned 80,152 shares of the company’s stock after acquiring an additional 72,252 shares during the quarter. International Assets Investment Management LLC’s holdings in SoundHound AI were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in SOUN. Vanguard Group Inc. boosted its stake in SoundHound AI by 16.1% in the 1st quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock valued at $94,655,000 after purchasing an additional 2,226,471 shares during the period. Baupost Group LLC MA bought a new stake in shares of SoundHound AI during the 1st quarter valued at $6,659,000. Carnegie Investment Counsel bought a new stake in shares of SoundHound AI during the 3rd quarter valued at $4,193,000. Bank of New York Mellon Corp lifted its position in shares of SoundHound AI by 92.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock valued at $3,940,000 after acquiring an additional 479,912 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of SoundHound AI by 563.0% during the 1st quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock valued at $2,843,000 after acquiring an additional 409,917 shares during the period. 19.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SoundHound AI

In other news, CEO Keyvan Mohajer sold 63,544 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the transaction, the chief executive officer now owns 2,299,148 shares of the company’s stock, valued at approximately $11,311,808.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SoundHound AI news, insider James Ming Hom sold 21,024 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $102,597.12. Following the completion of the transaction, the insider now owns 865,965 shares of the company’s stock, valued at $4,225,909.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keyvan Mohajer sold 63,544 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $4.92, for a total value of $312,636.48. Following the completion of the transaction, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at approximately $11,311,808.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 327,275 shares of company stock valued at $1,606,644. Corporate insiders own 12.28% of the company’s stock.

SoundHound AI Stock Performance

SoundHound AI stock opened at $5.69 on Thursday. SoundHound AI, Inc. has a 52 week low of $1.61 and a 52 week high of $10.25. The stock has a market capitalization of $2.04 billion, a P/E ratio of -14.00 and a beta of 2.71. The stock has a fifty day moving average of $4.96 and a 200-day moving average of $4.81.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The business had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.09 million. During the same period last year, the firm posted ($0.10) EPS. SoundHound AI’s quarterly revenue was up 53.8% on a year-over-year basis. On average, research analysts forecast that SoundHound AI, Inc. will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SOUN shares. DA Davidson reiterated a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a research report on Monday, September 30th. Northland Securities upped their target price on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Wedbush reiterated an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research report on Thursday, September 26th. Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and upped their target price for the company from $5.00 to $7.00 in a research report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.08.

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.