Thoroughbred Financial Services LLC Sells 7,225 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Thoroughbred Financial Services LLC decreased its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,975 shares of the company’s stock after selling 7,225 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in SoundHound AI were worth $1,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SOUN. Blue Trust Inc. increased its position in SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after acquiring an additional 830 shares during the period. Sound Income Strategies LLC grew 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 worth $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 during the 4th quarter worth about $40,000. Compagnie Lombard Odier SCmA acquired a new position in shares of SoundHound AI during the fourth quarter valued at about $40,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of SoundHound AI in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Keyvan Mohajer sold 118,605 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $1,174,189.50. Following the completion of the sale, the chief executive officer now directly owns 1,903,061 shares of the company’s stock, valued at approximately $18,840,303.90. This represents a 5.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diana Sroka sold 3,402 shares of SoundHound AI stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $34,292.16. Following the completion of the transaction, the director now directly owns 138,850 shares in the company, valued at approximately $1,399,608. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,565 shares of company stock worth $4,999,726. Company insiders own 12.28% of the company’s stock.

SoundHound AI Stock Down 11.8 %

NASDAQ:SOUN opened at $7.32 on Friday. The stock’s fifty day simple moving average is $11.03 and its 200-day simple moving average is $10.65. The firm has a market capitalization of $2.92 billion, a P/E ratio of -20.33 and a beta of 2.62. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month high of $24.98.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SOUN shares. DA Davidson boosted their price target on SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Wedbush increased their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research report on Monday, March 3rd. Finally, 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 report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, SoundHound AI has an average rating of “Hold” and a consensus target price of $12.86.

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.