Viawealth LLC Cuts Stake in SoundHound AI, Inc. (NASDAQ:SOUN)

Viawealth LLC lessened its stake in SoundHound AI, Inc. (NASDAQ:SOUN) by 40.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,000 shares of the company’s stock after selling 9,400 shares during the quarter. Viawealth LLC’s holdings in SoundHound AI were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SOUN. Blue Trust Inc. increased its stake in SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after buying an additional 1,271 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of SoundHound AI during the fourth quarter valued at approximately $40,000. Compagnie Lombard Odier SCmA purchased a new position in SoundHound AI in the 4th quarter worth approximately $40,000. Finally, Golden State Wealth Management LLC bought a new position in SoundHound AI in the 4th quarter valued at approximately $42,000. Institutional investors own 19.28% of the company’s stock.

Analyst Ratings Changes

SOUN has been the subject of a number of research analyst reports. DA Davidson lifted their target price on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a report on Monday, February 24th. Finally, Northland Securities lifted their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.86.

SoundHound AI Trading Up 2.9 %

SoundHound AI stock opened at $9.85 on Thursday. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98. The company has a market cap of $3.87 billion, a P/E ratio of -27.36 and a beta of 2.62. 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 business has a 50-day simple moving average of $12.38 and a two-hundred day simple moving average of $10.33.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $34.54 million for the quarter, compared to the consensus estimate of $33.70 million. Analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Insider Activity

In other news, Director Lawrence Marcus sold 20,000 shares of SoundHound AI stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the transaction, the director now directly owns 108,117 shares of the company’s stock, valued at $2,213,154.99. The trade was a 15.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Timothy Stonehocker sold 34,407 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $698,462.10. Following the completion of the sale, the chief technology officer now directly owns 796,581 shares of the company’s stock, valued at $16,170,594.30. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 524,676 shares of company stock valued at $10,638,694 in the last 90 days. Company insiders own 12.28% of the company’s stock.

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.