Stephens Inc. AR Invests $1.17 Million in SoundHound AI, Inc. (NASDAQ:SOUN)

Stephens Inc. AR bought a new position in SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,905 shares of the company’s stock, valued at approximately $1,169,000.

Other large investors have also bought and sold shares of the company. Sound Income Strategies LLC raised its position in SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 1,271 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of SoundHound AI in the fourth quarter valued at about $40,000. Golden State Wealth Management LLC bought a new position in shares of SoundHound AI in the fourth quarter valued at about $42,000. ST Germain D J Co. Inc. lifted its position in SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after buying an additional 750 shares in the last quarter. Finally, Avior Wealth Management LLC bought a new stake in SoundHound AI during the 4th quarter worth about $64,000. 19.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SoundHound AI news, insider James Ming Hom sold 53,891 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $538,910.00. Following the completion of the transaction, the insider now owns 813,193 shares in the company, valued at approximately $8,131,930. This represents a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric R. Ball sold 30,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.03, for a total value of $240,900.00. Following the completion of the sale, the director now owns 110,907 shares in the company, valued at approximately $890,583.21. This trade represents a 21.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,782,918 shares of company stock worth $45,391,343 over the last ninety days. 12.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research report on Monday, January 13th. Wedbush upped 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. Barclays reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, Northland Securities upped their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.36.

SoundHound AI Stock Up 1.2 %

Shares of NASDAQ SOUN opened at $13.97 on Thursday. The firm has a 50 day moving average price of $16.66 and a 200 day moving average price of $9.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The stock has a market cap of $5.49 billion, a P/E ratio of -38.81 and a beta of 2.56. SoundHound AI, Inc. has a 52-week low of $2.08 and a 52-week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm’s quarterly revenue was up 88.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. 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.