Stratos Wealth Partners LTD. Purchases 7,325 Shares of SoundHound AI, Inc. $SOUN

Stratos Wealth Partners LTD. grew its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,642 shares of the company’s stock after acquiring an additional 7,325 shares during the period. Stratos Wealth Partners LTD.’s holdings in SoundHound AI were worth $812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SOUN. Virtu Financial LLC acquired a new stake in SoundHound AI during the first quarter worth approximately $2,395,000. Northern Trust Corp boosted its holdings in shares of SoundHound AI by 2.5% during the 1st quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock worth $24,190,000 after buying an additional 72,766 shares in the last quarter. Carnegie Investment Counsel grew its position in shares of SoundHound AI by 8.9% during the 1st quarter. Carnegie Investment Counsel now owns 1,069,860 shares of the company’s stock worth $8,131,000 after buying an additional 87,810 shares during the period. Liontrust Investment Partners LLP bought a new stake in shares of SoundHound AI in the 1st quarter valued at $1,639,000. Finally, First Manhattan CO. LLC. acquired a new position in shares of SoundHound AI during the 1st quarter valued at $985,000. 19.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SOUN shares. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price target on shares of SoundHound AI in a research note on Monday, July 14th. Oppenheimer began coverage on SoundHound AI in a research report on Thursday, September 11th. They issued a “market perform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of SoundHound AI in a report on Tuesday, October 14th. Northland Securities raised SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price objective for the company in a research note on Friday, August 8th. Finally, DA Davidson upped their target price on SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.50.

SoundHound AI Stock Down 2.6%

SOUN stock opened at $17.76 on Thursday. The firm has a market capitalization of $7.24 billion, a PE ratio of -28.19 and a beta of 2.60. SoundHound AI, Inc. has a twelve month low of $4.86 and a twelve month high of $24.98. The stock’s 50 day moving average is $15.82 and its 200-day moving average is $12.19.

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

Insider Buying and Selling

In other SoundHound AI news, VP Majid Emami sold 41,167 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total value of $823,340.00. Following the completion of the sale, the vice president owned 608,186 shares in the company, valued at approximately $12,163,720. This trade represents a 6.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Timothy Stonehocker sold 70,524 shares of SoundHound AI stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total transaction of $1,410,480.00. Following the transaction, the chief technology officer directly owned 606,525 shares in the company, valued at approximately $12,130,500. This represents a 10.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 785,917 shares of company stock valued at $13,955,610 over the last 90 days. 9.17% of the stock is currently owned by company 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.