Financial Advocates Investment Management Has $693,000 Stock Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

Financial Advocates Investment Management decreased its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 25.2% in the 4th quarter, HoldingsChannel reports. The fund owned 34,925 shares of the company’s stock after selling 11,760 shares during the period. Financial Advocates Investment Management’s holdings in SoundHound AI were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC raised 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 valued at $26,000 after purchasing an additional 1,271 shares in the last quarter. NBC Securities Inc. increased its holdings in SoundHound AI by 97.8% in the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after buying an additional 3,818 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. Farther Finance Advisors LLC lifted its holdings in shares of SoundHound AI by 298.5% during 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 period. Finally, Sei Investments Co. acquired a new stake in shares of SoundHound AI during the 2nd quarter valued at about $43,000. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Stock Performance

Shares of NASDAQ:SOUN opened at $15.60 on Friday. The business has a fifty day moving average of $16.36 and a 200-day moving average of $9.18. 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 twelve month low of $1.70 and a twelve month high of $24.98. The firm has a market cap of $5.77 billion, a PE ratio of -43.33 and a beta of 2.56.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $23.02 million. During the same quarter last year, the company posted ($0.09) EPS. The company’s quarterly revenue was up 88.7% compared to the same quarter last year. On average, equities research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on SOUN shares. Wedbush raised their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Northland Securities raised their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research report on Monday, January 13th. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Barclays reaffirmed a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a 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 stock. According to data from MarketBeat.com, SoundHound AI currently has an average rating of “Moderate Buy” and a consensus target price of $12.36.

Insider Buying and Selling

In other SoundHound AI news, VP Majid Emami sold 94,067 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.05, for a total transaction of $851,306.35. Following the completion of the sale, the vice president now directly owns 735,685 shares of the company’s stock, valued at approximately $6,657,949.25. The trade was a 11.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Keyvan Mohajer sold 465,394 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the completion of the transaction, the chief executive officer now directly owns 2,299,148 shares in the company, valued at $34,579,185.92. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,782,918 shares of company stock worth $45,391,343 in the last quarter. Insiders own 12.28% of the company’s stock.

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.