SJS Investment Consulting Inc. Acquires New Position in SoundHound AI, Inc. (NASDAQ:SOUN)

SJS Investment Consulting Inc. bought a new position in SoundHound AI, Inc. (NASDAQ:SOUN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,510 shares of the company’s stock, valued at approximately $129,000.

Several other institutional investors also recently bought and sold shares of the business. Sound Income Strategies LLC grew its position 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 purchasing an additional 1,271 shares during the period. NBC Securities Inc. grew its holdings in SoundHound AI by 97.8% in the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after buying an additional 3,818 shares during the period. Amalgamated Bank increased its stake in shares of SoundHound AI by 108.0% during the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after acquiring an additional 5,099 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of SoundHound AI during the 4th quarter worth about $40,000. Finally, Farther Finance Advisors LLC boosted its position in shares of SoundHound AI by 298.5% in the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after acquiring an additional 6,716 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on SOUN. DA Davidson reaffirmed a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research report on Monday, January 13th. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Barclays restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.36.

SoundHound AI Trading Down 3.4 %

SOUN stock opened at $15.84 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $24.98. The stock has a 50-day simple moving average of $14.91 and a 200-day simple moving average of $8.52.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data 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 during 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%. SoundHound AI’s revenue for the quarter was up 88.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) earnings per share. Sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other SoundHound AI news, CEO Keyvan Mohajer sold 465,394 shares of SoundHound AI stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the sale, the chief executive officer now directly owns 2,299,148 shares in the company, valued at $34,579,185.92. The trade was a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Zagorsek sold 277,813 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $21.25, for a total value of $5,903,526.25. Following the transaction, the chief operating officer now owns 1,473,322 shares of the company’s stock, valued at approximately $31,308,092.50. This trade represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock worth $45,391,343 in the last quarter. 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.