SoundHound AI, Inc. (NASDAQ:SOUN) Holdings Lifted by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 68.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,508 shares of the company’s stock after acquiring an additional 8,352 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in SoundHound AI were worth $407,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of SoundHound AI by 197.6% in 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 during the period. Sound Income Strategies LLC increased its stake in SoundHound AI by 2,542.0% in the 4th 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 period. Future Financial Wealth Managment LLC purchased a new stake in SoundHound AI in the 4th quarter worth approximately $40,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of SoundHound AI during the 4th quarter valued at $40,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of SoundHound AI during the 4th quarter valued at $42,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Price Performance

NASDAQ SOUN opened at $10.08 on Tuesday. SoundHound AI, Inc. has a 1 year low of $3.50 and a 1 year high of $24.98. The company has a fifty day simple moving average of $12.65 and a 200 day simple moving average of $10.30. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.96 billion, a P/E ratio of -28.00 and a beta of 2.62.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly 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 during the quarter, compared to analyst estimates of $33.70 million. On average, sell-side analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

SOUN has been the subject of several recent research reports. DA Davidson increased their price objective on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Northland Securities raised their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. 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. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.86.

Insiders Place Their Bets

In other SoundHound AI news, CEO Keyvan Mohajer sold 156,288 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the sale, the chief executive officer now directly owns 2,021,666 shares in the company, valued at $40,837,653.20. This trade represents a 7.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Zagorsek sold 277,813 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.25, for a total transaction of $5,903,526.25. Following the transaction, the chief operating officer now directly owns 1,473,322 shares of the company’s stock, valued at $31,308,092.50. This represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 802,489 shares of company stock valued at $16,542,220 in the last three months. Company insiders own 12.28% of the company’s stock.

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.