Larson Financial Group LLC Has $81,000 Stock Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Larson Financial Group LLC increased its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 76.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,068 shares of the company’s stock after purchasing an additional 1,768 shares during the quarter. Larson Financial Group LLC’s holdings in SoundHound AI were worth $81,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SOUN. Blue Trust Inc. grew its position in shares of SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after buying an additional 830 shares during the period. Sound Income Strategies LLC grew its position in shares of SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of SoundHound AI during the 4th quarter worth about $40,000. Compagnie Lombard Odier SCmA acquired a new position in shares of SoundHound AI during the 4th quarter worth about $40,000. Finally, Farther Finance Advisors LLC grew its position in shares of SoundHound AI by 298.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after buying an additional 6,716 shares during the period. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SOUN has been the subject of several analyst reports. Northland Securities boosted their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. DA Davidson lifted their price objective on SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Barclays reiterated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a report on Monday, March 3rd. Four 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 a consensus rating of “Hold” and an average target price of $12.86.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, VP Majid Emami sold 37,459 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $760,417.70. Following the transaction, the vice president now owns 698,226 shares of the company’s stock, valued at $14,173,987.80. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Zagorsek sold 138,906 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $17.63, for a total value of $2,448,912.78. Following the transaction, the chief operating officer now directly owns 1,473,322 shares in the company, valued at $25,974,666.86. This trade represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 999,777 shares of company stock worth $20,062,443. Corporate insiders own 12.28% of the company’s stock.

SoundHound AI Trading Up 6.9 %

NASDAQ SOUN opened at $9.13 on Thursday. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -25.36 and a beta of 2.62. The stock’s 50 day moving average price is $13.28 and its two-hundred day moving average price is $10.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The firm had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. As a group, analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal 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.