MRP Capital Investments LLC Purchases 11,750 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

MRP Capital Investments LLC raised its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 21.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 67,250 shares of the company’s stock after acquiring an additional 11,750 shares during the period. SoundHound AI comprises 1.2% of MRP Capital Investments LLC’s portfolio, making the stock its 28th biggest position. MRP Capital Investments LLC’s holdings in SoundHound AI were worth $1,334,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 156,288 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total value of $3,157,017.60. Following the completion of the transaction, the chief executive officer now directly owns 2,021,666 shares in the company, valued at approximately $40,837,653.20. This trade represents a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Marcus sold 20,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the transaction, the director now owns 108,117 shares of the company’s stock, valued at $2,213,154.99. This represents a 15.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

SoundHound AI Stock Performance

SOUN opened at $9.59 on Friday. The firm has a market cap of $3.77 billion, a P/E ratio of -26.64 and a beta of 2.62. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The business’s fifty day moving average is $12.27 and its 200-day moving average is $10.32.

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

Analyst Upgrades and Downgrades

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

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.