SoundHound AI, Inc. (NASDAQ:SOUN) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its position in shares of SoundHound AI, Inc. (NASDAQ:SOUNFree Report) by 86.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,185 shares of the company’s stock after selling 68,967 shares during the quarter. International Assets Investment Management LLC’s holdings in SoundHound AI were worth $225,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of SoundHound AI by 0.6% in the 3rd quarter. State Street Corp now owns 7,197,414 shares of the company’s stock valued at $33,540,000 after purchasing an additional 42,869 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after buying an additional 602,311 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of SoundHound AI by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock valued at $12,033,000 after buying an additional 189,109 shares during the period. Carnegie Investment Counsel purchased a new stake in shares of SoundHound AI during the 3rd quarter valued at $4,193,000. Finally, Rhumbline Advisers grew its stake in shares of SoundHound AI by 106.6% during the 2nd quarter. Rhumbline Advisers now owns 360,167 shares of the company’s stock valued at $1,423,000 after buying an additional 185,861 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SOUN shares. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday. Wedbush boosted their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Barclays reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, DA Davidson reaffirmed a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.07.

Read Our Latest Stock Report on SoundHound AI

SoundHound AI Stock Down 9.0 %

Shares of SoundHound AI stock opened at $12.82 on Tuesday. The company has a fifty day moving average price of $13.44 and a 200 day moving average price of $7.90. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $24.98. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of -35.61 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUNGet Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The firm’s revenue was up 88.7% compared to the same quarter last year. Equities research analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoundHound AI news, CEO Keyvan Mohajer sold 465,394 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $15.04, for a total value of $6,999,525.76. Following the transaction, the chief executive officer now owns 2,299,148 shares in the company, valued at $34,579,185.92. The trade was a 16.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Zagorsek sold 277,813 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.25, for a total transaction of $5,903,526.25. Following the completion of the transaction, the chief operating officer now owns 1,473,322 shares in the company, valued at $31,308,092.50. This represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock worth $45,391,343 in the last quarter. 12.28% of the stock is owned by corporate insiders.

About SoundHound AI

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for SoundHound AI (NASDAQ:SOUN)

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