58,905 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Bought by Stephens Inc. AR

Stephens Inc. AR purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, Holdings Channel reports. The firm purchased 58,905 shares of the company’s stock, valued at approximately $1,169,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SOUN. Sound Income Strategies LLC increased its position 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 acquiring an additional 1,271 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in SoundHound AI in the fourth quarter valued at approximately $40,000. Golden State Wealth Management LLC acquired a new position in shares of SoundHound AI during the 4th quarter worth approximately $42,000. ST Germain D J Co. Inc. increased its position in shares of SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after purchasing an additional 750 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new stake in shares of SoundHound AI during the 4th quarter worth approximately $64,000. 19.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOUN has been the topic of a number of recent analyst reports. Wedbush boosted their target price 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. HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th. Northland Securities upped their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. Barclays reiterated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.36.

SoundHound AI Stock Performance

Shares of SOUN stock opened at $13.97 on Thursday. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of -38.81 and a beta of 2.56. 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 52 week low of $2.08 and a 52 week high of $24.98. The company has a 50-day simple moving average of $16.66 and a 200 day simple moving average of $9.41.

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

Insider Activity at SoundHound AI

In other news, Director Lawrence Marcus sold 30,000 shares of SoundHound AI stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the completion of the sale, the director now directly owns 178,117 shares in the company, valued at approximately $1,273,536.55. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Timothy Stonehocker sold 34,407 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $698,462.10. Following the completion of the sale, the chief technology officer now owns 796,581 shares of the company’s stock, valued at approximately $16,170,594.30. This trade represents a 4.14 % decrease in their ownership of the stock. 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 ninety days. 12.28% of the stock is owned by company insiders.

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.