SG Americas Securities LLC Boosts Position in SoundHound AI, Inc. (NASDAQ:SOUN)

SG Americas Securities LLC grew its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 70.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,028 shares of the company’s stock after buying an additional 80,448 shares during the quarter. SG Americas Securities LLC owned 0.05% of SoundHound AI worth $3,869,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Commons Capital LLC grew its stake in SoundHound AI by 2.7% in the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock valued at $543,000 after acquiring an additional 723 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of SoundHound AI by 55.3% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 23,389 shares of the company’s stock valued at $464,000 after purchasing an additional 8,329 shares in the last quarter. Kraematon Investment Advisors Inc. acquired a new stake in shares of SoundHound AI in the fourth quarter valued at approximately $355,000. Carnegie Investment Counsel increased its stake in shares of SoundHound AI by 9.1% during the 4th quarter. Carnegie Investment Counsel now owns 982,050 shares of the company’s stock worth $19,484,000 after purchasing an additional 82,300 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of SoundHound AI during the 4th quarter worth approximately $756,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Insider Buying and Selling

In other news, CTO Timothy Stonehocker sold 34,407 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $698,462.10. Following the completion of the sale, the chief technology officer now owns 796,581 shares in the company, valued at approximately $16,170,594.30. The trade was a 4.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Marcus sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total transaction of $214,500.00. Following the completion of the transaction, the director now owns 178,117 shares in the company, valued at $1,273,536.55. The trade was a 14.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. 12.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SOUN shares. DA Davidson reiterated a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Wedbush increased 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. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Barclays reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.36.

SoundHound AI Trading Down 3.4 %

NASDAQ SOUN opened at $15.84 on Friday. The company has a market cap of $5.86 billion, a P/E ratio of -44.00 and a beta of 2.63. SoundHound AI, Inc. has a 12 month low of $1.62 and a 12 month high of $24.98. 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 company has a 50-day moving average of $14.91 and a 200-day moving average of $8.55.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. SoundHound AI’s revenue for the quarter was up 88.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) earnings per share. As a group, equities analysts predict 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.