15,975 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC acquired a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,975 shares of the company’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Regatta Capital Group LLC acquired a new position in shares of SoundHound AI during the fourth quarter worth approximately $219,000. SJS Investment Consulting Inc. bought a new stake in SoundHound AI during the 4th quarter valued at $129,000. Cyndeo Wealth Partners LLC acquired a new position in SoundHound AI during the 4th quarter worth $198,000. Sound Income Strategies LLC grew its stake in shares of SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 1,271 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new position in shares of SoundHound AI during the fourth quarter valued at $64,000. Institutional investors own 19.28% of the company’s stock.

Insider Activity at SoundHound AI

In other news, CFO Nitesh Sharan sold 57,761 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $1,172,548.30. Following the transaction, the chief financial officer now directly owns 1,502,650 shares of the company’s stock, valued at approximately $30,503,795. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Keyvan Mohajer sold 156,288 shares of SoundHound AI stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the sale, the chief executive officer now directly owns 2,021,666 shares of the company’s stock, valued at approximately $40,837,653.20. The trade was a 7.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. Company insiders own 12.28% of the company’s stock.

SoundHound AI Stock Performance

Shares of SOUN opened at $14.15 on Friday. The company has a 50-day moving average of $15.63 and a two-hundred day moving average of $8.83. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of -39.31 and a beta of 2.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a one year low of $1.62 and a one year high of $24.98.

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

Analyst Ratings Changes

SOUN has been the subject of several research analyst reports. Barclays reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, January 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 note on Tuesday, January 14th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, Wedbush lifted their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.