Concurrent Investment Advisors LLC Has $231,000 Stock Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

Concurrent Investment Advisors LLC grew its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 16.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,518 shares of the company’s stock after purchasing an additional 7,124 shares during the period. Concurrent Investment Advisors LLC’s holdings in SoundHound AI were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kings Path Partners LLC acquired a new position in SoundHound AI during the 2nd quarter worth approximately $28,000. International Assets Investment Management LLC bought a new stake in shares of SoundHound AI during the second quarter valued at approximately $31,000. NBC Securities Inc. raised its position 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 shares of 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 purchasing an additional 5,099 shares in the last quarter. Finally, Signaturefd LLC grew its position in SoundHound AI by 27.3% in the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $41,000 after purchasing an additional 2,200 shares during the period. Institutional investors own 19.28% of the company’s stock.

Insider Activity at SoundHound AI

In related news, insider James Ming Hom sold 21,024 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $102,597.12. Following the completion of the sale, the insider now owns 865,965 shares in the company, valued at approximately $4,225,909.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other SoundHound AI news, CEO Keyvan Mohajer sold 63,544 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $4.92, for a total transaction of $312,636.48. Following the sale, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at $11,311,808.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Ming Hom sold 21,024 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $102,597.12. Following the transaction, the insider now owns 865,965 shares of the company’s stock, valued at $4,225,909.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,275 shares of company stock valued at $1,606,644. 12.28% of the stock is owned by insiders.

Analyst Ratings Changes

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

SoundHound AI Stock Up 7.9 %

SoundHound AI stock opened at $7.77 on Tuesday. SoundHound AI, Inc. has a 52 week low of $1.62 and a 52 week high of $10.25. The company’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $4.89. The stock has a market cap of $2.79 billion, a P/E ratio of -19.92 and a beta of 2.71.

SoundHound AI 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.