PFG Investments LLC Sells 57,600 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

PFG Investments LLC decreased its stake in SoundHound AI, Inc. (NASDAQ:SOUN) by 73.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,020 shares of the company’s stock after selling 57,600 shares during the quarter. PFG Investments LLC’s holdings in SoundHound AI were worth $417,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SOUN. Sound Income Strategies LLC boosted its stake in shares of SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 1,271 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in SoundHound AI in the fourth quarter valued at about $40,000. ST Germain D J Co. Inc. boosted its position in 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 valued at $60,000 after buying an additional 750 shares in the last quarter. Avior Wealth Management LLC bought a new stake in SoundHound AI during the fourth quarter worth about $64,000. Finally, SJS Investment Consulting Inc. bought a new position in shares of SoundHound AI in the fourth quarter valued at approximately $129,000. 19.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other SoundHound AI news, VP Majid Emami sold 94,067 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.05, for a total value of $851,306.35. Following the completion of the transaction, the vice president now directly owns 735,685 shares of the company’s stock, valued at approximately $6,657,949.25. The trade was a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keyvan Mohajer sold 465,394 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.04, for a total value of $6,999,525.76. Following the sale, the chief executive officer now directly owns 2,299,148 shares in the company, valued at approximately $34,579,185.92. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock valued at $45,391,343 in the last 90 days. 12.28% of the stock is owned by insiders.

SoundHound AI Price Performance

SOUN opened at $14.00 on Friday. The company has a fifty day moving average price of $15.51 and a two-hundred day moving average price of $8.77. The firm has a market capitalization of $5.18 billion, a PE ratio of -38.89 and a beta of 2.63. SoundHound AI, Inc. has a 52 week low of $1.62 and a 52 week high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) 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 business had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The firm’s revenue was up 88.7% on a year-over-year basis. As a group, analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush raised their target price on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Barclays reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Northland Securities raised their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.36.

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.