Global Assets Advisory LLC Purchases Shares of 138,972 SoundHound AI, Inc. (NASDAQ:SOUN)

Global Assets Advisory LLC acquired a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 138,972 shares of the company’s stock, valued at approximately $819,000.

Other large investors also recently modified their holdings of the company. Independent Advisor Alliance bought a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $28,000. IAM Advisory LLC bought a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $29,000. HighPoint Advisor Group LLC bought a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $37,000. Great Valley Advisor Group Inc. bought a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $42,000. Finally, Ballew Advisors Inc bought a new stake in shares of SoundHound AI in the 1st quarter valued at approximately $59,000. 19.28% of the stock is currently owned by institutional investors.

SoundHound AI Stock Up 1.5 %

Shares of SOUN opened at $3.98 on Thursday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -10.47 and a beta of 2.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 8.84 and a current ratio of 8.84. The business’s fifty day moving average price is $4.63 and its two-hundred day moving average price is $4.06. SoundHound AI, Inc. has a 52 week low of $1.49 and a 52 week high of $10.25.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $11.59 million for the quarter, compared to analyst estimates of $10.10 million. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The business’s quarterly revenue was up 72.9% compared to the same quarter last year. During the same period last year, the company earned ($0.12) EPS. On average, analysts predict that SoundHound AI, Inc. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research note on Friday, May 10th. Cantor Fitzgerald upgraded SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target on the stock in a research report on Thursday, April 11th. DA Davidson increased their price target on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, March 15th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Monday, May 13th. Finally, Northland Securities restated a “market perform” rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.88.

Insider Buying and Selling at SoundHound AI

In other news, CEO Keyvan Mohajer sold 67,994 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $4.04, for a total value of $274,695.76. Following the transaction, the chief executive officer now owns 1,069,837 shares of the company’s stock, valued at approximately $4,322,141.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Keyvan Mohajer sold 67,994 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $4.04, for a total value of $274,695.76. Following the transaction, the chief executive officer now owns 1,069,837 shares of the company’s stock, valued at approximately $4,322,141.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Timothy Stonehocker sold 104,000 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $5.00, for a total value of $520,000.00. Following the completion of the transaction, the chief technology officer now directly owns 883,570 shares in the company, valued at approximately $4,417,850. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 417,728 shares of company stock worth $1,815,476. Insiders own 21.30% 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.