Thoroughbred Financial Services LLC Has $1.63 Million Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Thoroughbred Financial Services LLC lessened its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 8.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 81,975 shares of the company’s stock after selling 7,225 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in SoundHound AI were worth $1,626,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Commons Capital LLC grew its stake in shares of SoundHound AI by 2.7% during the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after acquiring an additional 723 shares in the last quarter. ST Germain D J Co. Inc. grew 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 purchasing an additional 750 shares in the last quarter. Keynote Financial Services LLC lifted its position in SoundHound AI by 4.7% during the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock worth $329,000 after buying an additional 752 shares in the last quarter. Blue Trust Inc. boosted its stake 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 worth $25,000 after buying an additional 830 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of SoundHound AI by 13.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 8,317 shares of the company’s stock worth $165,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

Insider Transactions at SoundHound AI

In related news, CEO Keyvan Mohajer sold 138,895 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $10.08, for a total value of $1,400,061.60. Following the transaction, the chief executive officer now directly owns 1,764,166 shares in the company, valued at approximately $17,782,793.28. This represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Ming Hom sold 28,388 shares of SoundHound AI stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $281,041.20. Following the completion of the sale, the insider now owns 689,652 shares of the company’s stock, valued at $6,827,554.80. This trade represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 500,565 shares of company stock worth $4,999,726. Company insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

SOUN has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a report on Monday, March 3rd. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Northland Securities increased their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. DA Davidson boosted their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, SoundHound AI currently has an average rating of “Hold” and a consensus price target of $12.86.

SoundHound AI Price Performance

NASDAQ:SOUN opened at $7.32 on Friday. The company has a market cap of $2.92 billion, a P/E ratio of -20.33 and a beta of 2.62. The firm’s fifty day moving average price is $11.03 and its two-hundred day moving average price is $10.65. SoundHound AI, Inc. has a one year low of $3.50 and a one year high of $24.98. 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 (NASDAQ:SOUN) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The company had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. Equities analysts expect 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.