Y Intercept Hong Kong Ltd Acquires New Holdings in SoundHound AI, Inc. $SOUN

Y Intercept Hong Kong Ltd acquired a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 344,423 shares of the company’s stock, valued at approximately $3,696,000. Y Intercept Hong Kong Ltd owned 0.09% of SoundHound AI as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SOUN. Janney Montgomery Scott LLC lifted its position in SoundHound AI by 7.3% during the first quarter. Janney Montgomery Scott LLC now owns 22,193 shares of the company’s stock valued at $180,000 after purchasing an additional 1,502 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in SoundHound AI by 2.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 211,757 shares of the company’s stock valued at $1,719,000 after purchasing an additional 5,306 shares during the period. Golden State Wealth Management LLC lifted its position in SoundHound AI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company’s stock valued at $34,000 after purchasing an additional 2,115 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in SoundHound AI by 72.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,775 shares of the company’s stock valued at $491,000 after purchasing an additional 24,362 shares during the period. Finally, KBC Group NV lifted its position in SoundHound AI by 22.6% during the first quarter. KBC Group NV now owns 16,206 shares of the company’s stock valued at $132,000 after purchasing an additional 2,985 shares during the period. Institutional investors own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of SoundHound AI from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $16.00 in a research report on Monday, August 11th. Oppenheimer began coverage on shares of SoundHound AI in a report on Thursday, September 11th. They set a “market perform” rating for the company. Northland Securities raised shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 target price for the company in a report on Friday, August 8th. HC Wainwright upped their target price on shares of SoundHound AI from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Northland Capmk raised shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Insider Transactions at SoundHound AI

In other news, CTO Timothy Stonehocker sold 70,524 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total value of $1,410,480.00. Following the completion of the sale, the chief technology officer directly owned 606,525 shares of the company’s stock, valued at $12,130,500. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Keyvan Mohajer sold 118,654 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total transaction of $2,373,080.00. Following the completion of the sale, the chief executive officer directly owned 2,342,613 shares of the company’s stock, valued at approximately $46,852,260. This trade represents a 4.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 785,917 shares of company stock valued at $13,955,610. Company insiders own 9.17% of the company’s stock.

SoundHound AI Price Performance

Shares of NASDAQ SOUN opened at $18.15 on Thursday. The firm has a fifty day moving average price of $16.18 and a 200-day moving average price of $12.60. The stock has a market cap of $7.40 billion, a PE ratio of -28.81 and a beta of 2.60. SoundHound AI, Inc. has a 1 year low of $4.97 and a 1 year high of $24.98.

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

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.