25,768 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Acquired by Focus Financial Network Inc.

Focus Financial Network Inc. purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,768 shares of the company’s stock, valued at approximately $120,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SOUN. Vanguard Group Inc. raised its holdings in shares of SoundHound AI by 16.1% during the first quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock worth $94,655,000 after acquiring an additional 2,226,471 shares during the period. Baupost Group LLC MA acquired a new stake in shares of SoundHound AI in the 1st quarter valued at about $6,659,000. Bank of New York Mellon Corp lifted its holdings in shares of SoundHound AI by 92.7% in the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock valued at $3,940,000 after purchasing an additional 479,912 shares in the last quarter. Carnegie Investment Counsel acquired a new position in shares of SoundHound AI during the third quarter worth about $4,193,000. Finally, Janus Henderson Group PLC grew its holdings in shares of SoundHound AI by 563.0% during the first quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock worth $2,843,000 after buying an additional 409,917 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a research report on Thursday, September 26th. Cantor Fitzgerald raised shares of SoundHound AI from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.00 to $7.00 in a research report on Friday, August 9th. DA Davidson reissued a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. Northland Securities lifted their target price on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.08.

Insider Activity at SoundHound AI

In other SoundHound AI news, CTO Timothy Stonehocker sold 20,337 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $99,244.56. Following the transaction, the chief technology officer now directly owns 1,039,194 shares in the company, valued at $5,071,266.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider James Ming Hom sold 21,024 shares of SoundHound AI stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $102,597.12. Following the completion of the sale, the insider now directly owns 865,965 shares of the company’s stock, valued at approximately $4,225,909.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Timothy Stonehocker sold 20,337 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $99,244.56. Following the completion of the transaction, the chief technology officer now directly owns 1,039,194 shares in the company, valued at approximately $5,071,266.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,275 shares of company stock worth $1,606,644. Company insiders own 12.28% of the company’s stock.

SoundHound AI Price Performance

Shares of SOUN opened at $5.09 on Tuesday. The firm has a 50-day moving average of $4.95 and a 200-day moving average of $4.80. The company has a market cap of $1.83 billion, a PE ratio of -13.05 and a beta of 2.71. SoundHound AI, Inc. has a one year low of $1.61 and a one year high of $10.25.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). SoundHound AI had a negative net margin of 195.65% and a negative return on equity of 93.28%. The business had revenue of $13.46 million during the quarter, compared to the consensus estimate of $13.09 million. During the same quarter in the prior year, the company earned ($0.10) EPS. SoundHound AI’s quarterly revenue was up 53.8% on a year-over-year basis. Analysts expect that SoundHound AI, Inc. will post -0.36 earnings per share for the current year.

SoundHound AI Company 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.