Financial Advocates Investment Management Has $123,000 Position in SoundHound AI, Inc. $SOUN

Financial Advocates Investment Management lessened its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 39.6% in the second quarter, HoldingsChannel.com reports. The firm owned 11,425 shares of the company’s stock after selling 7,500 shares during the period. Financial Advocates Investment Management’s holdings in SoundHound AI were worth $123,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SOUN. LPL Financial LLC increased its position in shares of SoundHound AI by 7.5% during the first quarter. LPL Financial LLC now owns 1,346,805 shares of the company’s stock worth $10,936,000 after acquiring an additional 93,833 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in SoundHound AI in the 1st quarter valued at about $162,000. MASO CAPITAL PARTNERS Ltd acquired a new position in SoundHound AI during the 1st quarter valued at about $555,000. R Squared Ltd bought a new stake in SoundHound AI during the 1st quarter worth approximately $112,000. Finally, Thoroughbred Financial Services LLC raised its stake in shares of SoundHound AI by 38.4% in the first quarter. Thoroughbred Financial Services LLC now owns 113,475 shares of the company’s stock worth $921,000 after purchasing an additional 31,500 shares during the last quarter. 19.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SoundHound AI news, COO Michael Zagorsek sold 69,837 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $16.00, for a total transaction of $1,117,392.00. Following the completion of the transaction, the chief operating officer owned 1,860,790 shares in the company, valued at $29,772,640. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Timothy Stonehocker sold 70,524 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction of $1,410,480.00. Following the completion of the sale, the chief technology officer directly owned 606,525 shares in the company, valued at approximately $12,130,500. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 787,260 shares of company stock worth $13,973,056 in the last quarter. 9.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SOUN has been the topic of a number of recent analyst reports. Wedbush reissued an “outperform” rating and set a $16.00 price target on shares of SoundHound AI in a research report on Thursday, September 11th. DA Davidson restated a “buy” rating and issued a $17.00 target price on shares of SoundHound AI in a research note on Tuesday, November 18th. Northland Capmk raised SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. HC Wainwright lifted their price target on SoundHound AI from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Wall Street Zen cut SoundHound AI from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, SoundHound AI currently has a consensus rating of “Moderate Buy” and an average target price of $17.42.

SoundHound AI Stock Up 2.2%

Shares of SOUN stock opened at $12.08 on Friday. The firm has a market cap of $5.07 billion, a P/E ratio of -14.37 and a beta of 2.60. The company has a 50 day moving average of $16.00 and a 200-day moving average of $13.24. SoundHound AI, Inc. has a 12-month low of $6.52 and a 12-month high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The business had revenue of $42.05 million during the quarter, compared to analyst estimates of $40.48 million. During the same period in the prior year, the company earned ($0.04) earnings per share. SoundHound AI’s revenue was up 67.6% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current year.

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.