SoundHound AI, Inc. (NASDAQ:SOUN) Shares Acquired by Xponance Inc.

Xponance Inc. increased its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 14.6% in the fourth quarter, Holdings Channel reports. The firm owned 22,133 shares of the company’s stock after buying an additional 2,827 shares during the period. Xponance Inc.’s holdings in SoundHound AI were worth $439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of SoundHound AI by 9.1% during the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after acquiring an additional 602,311 shares during the last quarter. Oriental Harbor Investment Fund purchased a new position in shares of SoundHound AI during the 4th quarter worth approximately $8,964,000. Raymond James Financial Inc. acquired a new stake in SoundHound AI in the 4th quarter valued at approximately $6,830,000. UNICOM Systems Inc. purchased a new stake in SoundHound AI in the fourth quarter valued at approximately $4,662,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in SoundHound AI by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after purchasing an additional 189,109 shares in the last quarter. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

SoundHound AI Trading Down 8.0 %

NASDAQ SOUN opened at $9.38 on Thursday. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98. The firm has a 50 day moving average of $12.00 and a two-hundred day moving average of $10.52. 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 stock has a market capitalization of $3.74 billion, a PE ratio of -26.06 and a beta of 2.62.

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

Insider Transactions at SoundHound AI

In related news, CTO Timothy Stonehocker sold 3,333 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.08, for a total value of $33,596.64. Following the transaction, the chief technology officer now directly owns 765,534 shares of the company’s stock, valued at $7,716,582.72. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Ming Hom sold 28,388 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were 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 directly owns 689,652 shares of the company’s stock, valued at approximately $6,827,554.80. This trade represents a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 500,565 shares of company stock valued at $4,999,726. Corporate insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

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

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.