Wealthcare Advisory Partners LLC Acquires 8,329 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Wealthcare Advisory Partners LLC boosted its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 55.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,389 shares of the company’s stock after purchasing an additional 8,329 shares during the period. Wealthcare Advisory Partners LLC’s holdings in SoundHound AI were worth $464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SOUN. NBC Securities Inc. increased its holdings in SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after acquiring an additional 3,818 shares during the period. Amalgamated Bank boosted its stake in SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after buying an additional 5,099 shares during the period. Future Financial Wealth Managment LLC purchased a new position in SoundHound AI during the fourth quarter worth about $40,000. Farther Finance Advisors LLC increased its stake in SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after acquiring an additional 6,716 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of SoundHound AI in the 2nd quarter valued at about $43,000. 19.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at SoundHound AI

In other news, VP Majid Emami sold 37,459 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $760,417.70. Following the sale, the vice president now directly owns 698,226 shares in the company, valued at approximately $14,173,987.80. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Keyvan Mohajer sold 465,394 shares of SoundHound AI stock in a transaction on 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 owns 2,299,148 shares of the company’s stock, valued at approximately $34,579,185.92. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,782,918 shares of company stock worth $45,391,343 in the last three months. Insiders own 12.28% of the company’s stock.

SoundHound AI Stock Down 2.4 %

NASDAQ SOUN opened at $13.64 on Tuesday. SoundHound AI, Inc. has a 52 week low of $1.62 and a 52 week high of $24.98. 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 company has a market capitalization of $5.04 billion, a P/E ratio of -37.89 and a beta of 2.63. The stock’s 50-day moving average price is $14.14 and its 200-day moving average price is $8.24.

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

SoundHound AI Company 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.