Good Life Advisors LLC Sells 12,925 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Good Life Advisors LLC reduced its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 13.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,875 shares of the company’s stock after selling 12,925 shares during the period. Good Life Advisors LLC’s holdings in SoundHound AI were worth $386,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kings Path Partners LLC bought a new position in shares of SoundHound AI during the second quarter valued at about $28,000. Hexagon Capital Partners LLC bought a new stake in SoundHound AI in the first quarter worth about $29,000. International Assets Investment Management LLC bought a new stake in SoundHound AI in the second quarter worth about $31,000. NBC Securities Inc. raised its position in SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after acquiring an additional 3,818 shares during the period. Finally, HighPoint Advisor Group LLC bought a new stake in SoundHound AI in the fourth quarter worth about $37,000. 19.28% of the stock is owned by institutional investors.

Insider Activity at SoundHound AI

In other news, CEO Keyvan Mohajer sold 90,641 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $442,328.08. Following the transaction, the chief executive officer now owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Keyvan Mohajer sold 90,641 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $442,328.08. Following the transaction, the chief executive officer now owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Nitesh Sharan sold 39,728 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $193,872.64. Following the completion of the transaction, the chief financial officer now directly owns 1,560,411 shares in the company, valued at $7,614,805.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,275 shares of company stock valued at $1,606,644. Corporate insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on SOUN shares. DA Davidson reaffirmed a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, September 18th. Cantor Fitzgerald upgraded shares of SoundHound AI from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $5.00 to $7.00 in a research note on Friday, August 9th. Northland Securities lifted their target price on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.08.

SoundHound AI Trading Up 5.2 %

Shares of NASDAQ:SOUN opened at $5.50 on Friday. The company has a 50 day moving average of $4.88 and a 200 day moving average of $4.74. The stock has a market cap of $1.81 billion, a P/E ratio of -14.47 and a beta of 2.73. SoundHound AI, Inc. has a 12 month low of $1.49 and a 12 month high of $10.25.

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