Burr Financial Services LLC Invests $462,000 in SoundHound AI, Inc. (NASDAQ:SOUN)

Burr Financial Services LLC bought a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 23,300 shares of the company’s stock, valued at approximately $462,000. SoundHound AI makes up 0.3% of Burr Financial Services LLC’s portfolio, making the stock its 23rd biggest position.

A number of other large investors have also modified their holdings of SOUN. Carnegie Investment Counsel purchased a new position in SoundHound AI in the 3rd quarter valued at about $4,193,000. Geode Capital Management LLC grew its stake in SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after purchasing an additional 602,311 shares in the last quarter. Oriental Harbor Investment Fund purchased a new stake in SoundHound AI during the 4th quarter worth approximately $8,964,000. Shellback Capital LP acquired a new position in shares of SoundHound AI in the 2nd quarter valued at approximately $1,196,000. Finally, Squarepoint Ops LLC boosted its stake in shares of SoundHound AI by 818.0% during the 2nd quarter. Squarepoint Ops LLC now owns 231,168 shares of the company’s stock valued at $913,000 after buying an additional 205,985 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Trading Down 0.8 %

Shares of SoundHound AI stock opened at $16.38 on Thursday. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. The business’s fifty day moving average price is $14.52 and its two-hundred day moving average price is $8.39. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $23.02 million. During the same quarter last year, the company earned ($0.09) EPS. SoundHound AI’s quarterly revenue was up 88.7% on a year-over-year basis. As a group, equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SOUN has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a report on Monday, January 13th. Barclays reissued a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and issued a $9.50 target price on shares of SoundHound AI in a research report on Monday, September 30th. Northland Securities upped their price target on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. Finally, Wedbush boosted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.36.

Insider Buying and Selling at SoundHound AI

In other news, Director Lawrence Marcus sold 30,000 shares of SoundHound AI stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the transaction, the director now owns 178,117 shares of the company’s stock, valued at $1,273,536.55. The trade was a 14.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Keyvan Mohajer sold 156,288 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total transaction of $3,157,017.60. Following the sale, the chief executive officer now owns 2,021,666 shares of the company’s stock, valued at $40,837,653.20. The trade was a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,782,918 shares of company stock valued at $45,391,343. 12.28% of the stock is owned by corporate insiders.

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.