12,460 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Acquired by Capital Advisors Inc. OK

Capital Advisors Inc. OK bought a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, Holdings Channel reports. The firm bought 12,460 shares of the company’s stock, valued at approximately $247,000.

A number of other institutional investors also recently added to or reduced their stakes in SOUN. Sound Income Strategies LLC boosted its holdings in shares of SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after acquiring an additional 1,271 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in SoundHound AI in the fourth quarter worth approximately $40,000. Golden State Wealth Management LLC bought a new position in SoundHound AI during the 4th quarter valued at $42,000. ST Germain D J Co. Inc. increased its position in shares of SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after purchasing an additional 750 shares during the period. Finally, Avior Wealth Management LLC bought a new stake in shares of SoundHound AI in the 4th quarter worth $64,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SOUN. Northland Securities raised their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Barclays restated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a report on Monday, January 13th. Wedbush raised their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.36.

Insider Transactions at SoundHound AI

In related news, Director Lawrence Marcus sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total transaction of $214,500.00. Following the completion of the sale, the director now directly owns 178,117 shares in the company, valued at approximately $1,273,536.55. This trade represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Majid Emami sold 94,067 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $9.05, for a total transaction of $851,306.35. Following the completion of the transaction, the vice president now owns 735,685 shares in the company, valued at approximately $6,657,949.25. This represents a 11.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,782,918 shares of company stock valued at $45,391,343 over the last quarter. Company insiders own 12.28% of the company’s stock.

SoundHound AI Stock Performance

SoundHound AI stock opened at $13.97 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The company has a market cap of $5.49 billion, a P/E ratio of -38.81 and a beta of 2.56. SoundHound AI, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $24.98. The firm’s 50 day simple moving average is $16.66 and its 200-day simple moving average is $9.41.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company’s revenue was up 88.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) EPS. As a group, equities research analysts predict 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.