781,264 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Bought by Science & Technology Partners L.P.

Science & Technology Partners L.P. purchased a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 781,264 shares of the company’s stock, valued at approximately $15,500,000. SoundHound AI makes up about 4.7% of Science & Technology Partners L.P.’s portfolio, making the stock its 12th biggest holding. Science & Technology Partners L.P. owned 0.20% of SoundHound AI at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stifel Financial Corp grew its stake in shares of SoundHound AI by 122.4% in the third quarter. Stifel Financial Corp now owns 148,970 shares of the company’s stock worth $694,000 after purchasing an additional 81,990 shares during the last quarter. MML Investors Services LLC bought a new stake in SoundHound AI during the 3rd quarter valued at approximately $86,000. Geode Capital Management LLC grew its holdings in shares of SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock worth $33,529,000 after acquiring an additional 602,311 shares during the period. Sanctuary Advisors LLC raised its position in shares of SoundHound AI by 13.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,976 shares of the company’s stock worth $140,000 after acquiring an additional 3,642 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of SoundHound AI in the 3rd quarter valued at approximately $177,000. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Trading Up 7.5 %

SoundHound AI stock opened at $8.75 on Thursday. SoundHound AI, Inc. has a one year low of $3.82 and a one year high of $24.98. The business’s fifty day moving average is $9.09 and its 200 day moving average is $10.94. The stock has a market capitalization of $3.49 billion, a PE ratio of -24.31 and a beta of 2.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last issued its 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 return on equity of 55.58% and a negative net margin of 163.58%. The company had revenue of $34.54 million during the quarter, compared to analysts’ expectations of $33.70 million. On average, sell-side analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on SOUN shares. Cantor Fitzgerald upgraded SoundHound AI to a “hold” rating in a report on Monday, February 24th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd. Northland Securities boosted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. Finally, DA Davidson lowered their target price on shares of SoundHound AI from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.43.

Insiders Place Their Bets

In other news, CEO Keyvan Mohajer sold 138,895 shares of SoundHound AI stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the transaction, the chief executive officer now directly owns 1,764,166 shares of the company’s stock, valued at $17,782,793.28. The trade was a 7.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Ming Hom sold 51,196 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.25, for a total transaction of $524,759.00. Following the completion of the sale, the insider now directly owns 638,456 shares of the company’s stock, valued at $6,544,174. This represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 500,565 shares of company stock worth $4,999,726. Company insiders own 12.28% of the company’s stock.

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.