Harbor Investment Advisory LLC Boosts Holdings in SoundHound AI, Inc. $SOUN

Harbor Investment Advisory LLC boosted its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 92.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,500 shares of the company’s stock after acquiring an additional 6,950 shares during the period. Harbor Investment Advisory LLC’s holdings in SoundHound AI were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SOUN. Ameriprise Financial Inc. lifted its position in SoundHound AI by 42.5% during the fourth quarter. Ameriprise Financial Inc. now owns 136,735 shares of the company’s stock valued at $2,713,000 after acquiring an additional 40,763 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in SoundHound AI during the 4th quarter valued at approximately $1,405,000. Bank of America Corp DE increased its stake in SoundHound AI by 32.2% during the 4th quarter. Bank of America Corp DE now owns 803,982 shares of the company’s stock valued at $15,951,000 after purchasing an additional 195,795 shares in the last quarter. Deutsche Bank AG increased its stake in SoundHound AI by 64.2% during the 4th quarter. Deutsche Bank AG now owns 264,559 shares of the company’s stock valued at $5,249,000 after purchasing an additional 103,450 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in SoundHound AI by 11.0% during the 4th quarter. Focus Partners Wealth now owns 53,586 shares of the company’s stock valued at $1,083,000 after purchasing an additional 5,321 shares in the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SOUN shares. Piper Sandler restated a “neutral” rating and set a $12.00 price target on shares of SoundHound AI in a research note on Monday, July 14th. Wall Street Zen lowered shares of SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Wedbush restated an “outperform” rating and set a $16.00 price target on shares of SoundHound AI in a research note on Thursday. Northland Capmk upgraded shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Finally, LADENBURG THALM/SH SH upgraded shares of SoundHound AI from a “neutral” rating to a “buy” rating and upped their price target for the company from $9.00 to $16.00 in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.36.

SoundHound AI Price Performance

NASDAQ:SOUN opened at $14.12 on Monday. The firm has a market capitalization of $5.76 billion, a P/E ratio of -22.41 and a beta of 2.58. SoundHound AI, Inc. has a 1-year low of $4.45 and a 1-year high of $24.98. The company’s fifty day moving average price is $12.73 and its 200-day moving average price is $10.61.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). The business had revenue of $42.68 million during the quarter, compared to analyst estimates of $32.88 million. SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The firm’s revenue was up 216.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.11) EPS. SoundHound AI has set its FY 2025 guidance at EPS. Equities analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Transactions at SoundHound AI

In other news, CTO Timothy Stonehocker sold 2,981 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $9.68, for a total value of $28,856.08. Following the sale, the chief technology officer owned 716,866 shares in the company, valued at $6,939,262.88. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diana Sroka sold 2,800 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $9.94, for a total transaction of $27,832.00. Following the completion of the sale, the director owned 153,949 shares in the company, valued at $1,530,253.06. The trade was a 1.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 780,965 shares of company stock valued at $7,350,999. 9.17% of the stock is owned by corporate insiders.

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.