SG Americas Securities LLC increased its stake in SoundHound AI, Inc. (NASDAQ:SOUN – Free Report) by 70.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 195,028 shares of the company’s stock after purchasing an additional 80,448 shares during the quarter. SG Americas Securities LLC’s holdings in SoundHound AI were worth $3,869,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SOUN. NBC Securities Inc. raised its stake 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 valued at $35,000 after purchasing an additional 3,818 shares during the period. Amalgamated Bank lifted its holdings in SoundHound AI by 108.0% in 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 in the last quarter. Future Financial Wealth Managment LLC purchased a new position in SoundHound AI in the 4th quarter valued at about $40,000. Farther Finance Advisors LLC grew its stake in shares of SoundHound AI by 298.5% during the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after acquiring an additional 6,716 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of SoundHound AI during the second quarter valued at about $43,000. 19.28% of the stock is owned by institutional investors and hedge funds.
SoundHound AI Stock Down 3.4 %
SOUN stock opened at $15.84 on Friday. The firm has a fifty day moving average price of $14.91 and a two-hundred day moving average price of $8.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of -44.00 and a beta of 2.63.
Insider Activity at SoundHound AI
In other SoundHound AI news, CEO Keyvan Mohajer sold 156,288 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the sale, the chief executive officer now owns 2,021,666 shares in the company, valued at approximately $40,837,653.20. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Majid Emami sold 94,067 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.05, for a total value of $851,306.35. Following the transaction, the vice president now owns 735,685 shares of the company’s stock, valued at approximately $6,657,949.25. This represents a 11.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,782,918 shares of company stock worth $45,391,343 in the last 90 days. 12.28% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on SOUN. DA Davidson reissued a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a research report on Monday, January 13th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Barclays reiterated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Northland Securities boosted their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SoundHound AI presently has an average rating of “Moderate Buy” and a consensus target price of $12.36.
Read Our Latest Stock Report on SoundHound AI
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.
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