10,916 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Acquired by Valmark Advisers Inc.

Valmark Advisers Inc. acquired a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,916 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SOUN. Geode Capital Management LLC boosted its stake in SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock worth $33,529,000 after acquiring an additional 602,311 shares during the last quarter. Oriental Harbor Investment Fund bought a new position in SoundHound AI during the 4th quarter worth approximately $8,964,000. UNICOM Systems Inc. bought a new position in SoundHound AI during the 4th quarter worth approximately $4,662,000. Charles Schwab Investment Management Inc. boosted its stake in SoundHound AI by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after acquiring an additional 189,109 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new position in SoundHound AI during the 4th quarter worth approximately $3,432,000. Institutional investors own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SOUN. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Northland Securities lifted their price target 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. Barclays reaffirmed a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Wedbush lifted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.36.

Insider Transactions at SoundHound AI

In other news, Director Lawrence Marcus sold 20,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $20.47, for a total value of $409,400.00. Following the sale, the director now owns 108,117 shares of the company’s stock, valued at $2,213,154.99. The trade was a 15.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Majid Emami sold 37,459 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $760,417.70. Following the transaction, the vice president now owns 698,226 shares in the company, valued at approximately $14,173,987.80. The trade was a 5.09 % 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 valued at $45,391,343 over the last 90 days. 12.28% of the stock is owned by corporate insiders.

SoundHound AI Stock Performance

Shares of SOUN stock opened at $11.44 on Wednesday. The company’s fifty day simple moving average is $16.48 and its 200-day simple moving average is $9.65. 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 firm has a market cap of $4.50 billion, a PE ratio of -31.78 and a beta of 2.56. SoundHound AI, Inc. has a 12 month low of $3.46 and a 12 month high of $24.98.

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.