ST Germain D J Co. Inc. Has $60,000 Position in SoundHound AI, Inc. (NASDAQ:SOUN)

ST Germain D J Co. Inc. increased its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 33.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,008 shares of the company’s stock after buying an additional 750 shares during the period. ST Germain D J Co. Inc.’s holdings in SoundHound AI were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. NBC Securities Inc. lifted its holdings in shares of SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after purchasing an additional 3,818 shares during the period. Amalgamated Bank lifted its holdings in SoundHound AI by 108.0% during the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after buying an additional 5,099 shares during the period. Farther Finance Advisors LLC grew its position in shares of SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after buying an additional 6,716 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of SoundHound AI in the second quarter valued at about $43,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of SoundHound AI by 24.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock worth $46,000 after acquiring an additional 2,320 shares during the last quarter. 19.28% of the stock is owned by institutional investors.

Insider Transactions at SoundHound AI

In related news, Director Lawrence Marcus sold 30,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $7.15, for a total transaction of $214,500.00. Following the completion of the sale, the director now owns 178,117 shares in the company, valued at approximately $1,273,536.55. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Majid Emami sold 37,459 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $760,417.70. Following the completion of the sale, the vice president now directly owns 698,226 shares of the company’s stock, valued at $14,173,987.80. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,782,918 shares of company stock valued at $45,391,343 over the last three months. Corporate insiders own 12.28% of the company’s stock.

Wall Street Analyst Weigh In

SOUN has been the subject of a number of recent analyst reports. HC Wainwright increased their target price on shares of SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. DA Davidson restated a “buy” rating and issued a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Wedbush increased their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Barclays reissued a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.07.

SoundHound AI Price Performance

SOUN stock opened at $14.09 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The company’s 50-day moving average is $13.29 and its 200-day moving average is $7.81. The stock has a market capitalization of $5.21 billion, a PE ratio of -39.14 and a beta of 2.63. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) 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 business had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same quarter last year, the firm posted ($0.09) EPS. SoundHound AI’s revenue was up 88.7% compared to the same quarter last year. Equities research analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

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.