15,438 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Purchased by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC bought a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 15,438 shares of the company’s stock, valued at approximately $306,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in shares of SoundHound AI during the 4th quarter worth approximately $3,432,000. Charles Schwab Investment Management Inc. increased its position in SoundHound AI by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after buying an additional 189,109 shares in the last quarter. Oriental Harbor Investment Fund acquired a new position in shares of SoundHound AI in the fourth quarter worth $8,964,000. Geode Capital Management LLC lifted its position in shares of SoundHound AI by 9.1% in the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after acquiring an additional 602,311 shares in the last quarter. Finally, Wealth Effects LLC acquired a new stake in shares of SoundHound AI during the fourth quarter valued at $357,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Insider Buying and Selling

In other news, Director Diana Sroka sold 3,402 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $34,292.16. Following the completion of the sale, the director now owns 138,850 shares of the company’s stock, valued at $1,399,608. This represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Majid Emami sold 28,392 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,080.80. Following the completion of the sale, the vice president now owns 669,834 shares of the company’s stock, valued at approximately $6,631,356.60. This trade represents a 4.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 500,565 shares of company stock valued at $4,999,726. Company insiders own 12.28% of the company’s stock.

SoundHound AI Trading Down 11.8 %

SOUN stock opened at $7.32 on Friday. 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 company has a market cap of $2.92 billion, a price-to-earnings ratio of -20.33 and a beta of 2.73. The business has a fifty day simple moving average of $11.03 and a 200-day simple moving average of $10.69. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $33.70 million. On average, equities research analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

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

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.