SoundHound AI, Inc. (NASDAQ:SOUN) Shares Sold by Kessler Investment Group LLC

Kessler Investment Group LLC trimmed its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 37.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,236 shares of the company’s stock after selling 9,025 shares during the period. Kessler Investment Group LLC’s holdings in SoundHound AI were worth $302,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SOUN. Geode Capital Management LLC raised its stake in shares of SoundHound AI by 9.1% in the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after acquiring an additional 602,311 shares in the last quarter. Oriental Harbor Investment Fund acquired a new stake in shares of SoundHound AI in the fourth quarter valued at $8,964,000. UNICOM Systems Inc. acquired a new stake in shares of SoundHound AI in the fourth quarter valued at $4,662,000. Charles Schwab Investment Management Inc. raised its stake in shares of SoundHound AI by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock valued at $12,033,000 after acquiring an additional 189,109 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in shares of SoundHound AI in the fourth quarter valued at $3,432,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Stock Performance

Shares of SOUN stock opened at $10.97 on Friday. The stock’s 50-day moving average is $16.62 and its two-hundred day moving average is $9.50. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -30.47 and a beta of 2.56. SoundHound AI, Inc. has a 1 year low of $3.11 and a 1 year high of $24.98. 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 (NASDAQ:SOUN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business’s quarterly revenue was up 88.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.09) earnings per share. Analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Eric R. Ball sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.03, for a total transaction of $240,900.00. Following the transaction, the director now owns 110,907 shares of the company’s stock, valued at $890,583.21. This trade represents a 21.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Keyvan Mohajer sold 465,394 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.04, for a total value of $6,999,525.76. Following the transaction, the chief executive officer now directly owns 2,299,148 shares in the company, valued at approximately $34,579,185.92. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. 12.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Northland Securities increased their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Barclays restated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush raised their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.36.

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.