SoundHound AI, Inc. (NASDAQ:SOUN) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System boosted its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 16.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,551 shares of the company’s stock after acquiring an additional 13,463 shares during the period. Arizona State Retirement System’s holdings in SoundHound AI were worth $1,876,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SOUN. Blue Trust Inc. grew its stake in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of SoundHound AI during the 4th quarter worth about $40,000. Compagnie Lombard Odier SCmA purchased a new position in shares of SoundHound AI in the 4th quarter valued at about $40,000. Finally, Farther Finance Advisors LLC raised its position in shares of SoundHound AI by 298.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after acquiring an additional 6,716 shares in the last quarter. 19.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SOUN has been the subject of a number of research analyst reports. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a report on Monday, February 24th. Northland Securities upped their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd. DA Davidson upped their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.86.

Insider Buying and Selling at SoundHound AI

In related news, Director Lawrence Marcus sold 20,000 shares of SoundHound AI stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total value of $409,400.00. Following the sale, the director now directly owns 108,117 shares in the company, valued at $2,213,154.99. The trade was a 15.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Majid Emami sold 37,459 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $760,417.70. Following the transaction, the vice president now directly owns 698,226 shares in the company, valued at $14,173,987.80. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,024,777 shares of company stock valued at $20,412,443. 12.28% of the stock is owned by corporate insiders.

SoundHound AI Stock Down 0.4 %

SOUN opened at $8.54 on Wednesday. The business has a 50 day moving average price of $13.49 and a two-hundred day moving average price of $10.17. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.36 billion, a PE ratio of -23.72 and a beta of 2.62.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. As a group, research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS 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.