Signaturefd LLC Lowers Stake in SoundHound AI, Inc. (NASDAQ:SOUN)

Signaturefd LLC lowered its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,636 shares of the company’s stock after selling 2,619 shares during the period. Signaturefd LLC’s holdings in SoundHound AI were worth $191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SOUN. Blue Trust Inc. lifted its holdings in shares of SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares during the last quarter. Sound Income Strategies LLC increased its position 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 acquiring an additional 1,271 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of SoundHound AI in the 4th quarter valued at $40,000. Compagnie Lombard Odier SCmA acquired a new position in shares of SoundHound AI in the 4th quarter valued at $40,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of SoundHound AI in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SOUN shares. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Wedbush upped their target price on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. Northland Securities upped their target price on 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, DA Davidson increased their price target on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SoundHound AI has an average rating of “Hold” and a consensus target price of $12.86.

Insider Transactions at SoundHound AI

In other news, CEO Keyvan Mohajer sold 156,288 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total transaction 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 $40,837,653.20. This represents a 7.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence Marcus sold 20,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the sale, the director now directly owns 108,117 shares in the company, valued at approximately $2,213,154.99. The trade was a 15.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

SoundHound AI Price Performance

Shares of SOUN opened at $9.86 on Friday. The business’s 50-day moving average is $12.19 and its two-hundred day moving average is $10.40. The company has a market capitalization of $3.88 billion, a P/E ratio of -27.39 and a beta of 2.62. 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, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $33.70 million. Research analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

SoundHound AI 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.