131,600 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Acquired by Bulltick Wealth Management LLC

Bulltick Wealth Management LLC acquired a new stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 131,600 shares of the company's stock, valued at approximately $2,611,000.

A number of other hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its holdings 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 buying an additional 830 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock valued at $26,000 after buying an additional 1,271 shares during the period. Future Financial Wealth Managment LLC bought a new position in SoundHound AI during the fourth quarter worth about $40,000. Compagnie Lombard Odier SCmA purchased a new position in SoundHound AI in the 4th quarter valued at approximately $40,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of SoundHound AI during the 4th quarter valued at $42,000. Institutional investors own 19.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Northland Securities lifted 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. Cantor Fitzgerald upgraded shares of SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Wedbush lowered their price objective on SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday. DA Davidson cut their target price on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, HC Wainwright reissued a "buy" rating and set a $26.00 price target on shares of SoundHound AI in a research report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, SoundHound AI currently has an average rating of "Hold" and an average price target of $11.43.

SoundHound AI Stock Down 7.0 %

Shares of SOUN stock traded down $0.68 during midday trading on Friday, reaching $9.06. 37,681,034 shares of the stock were exchanged, compared to its average volume of 37,697,377. SoundHound AI, Inc. has a 1 year low of $3.82 and a 1 year high of $24.98. The firm has a market cap of $3.61 billion, a PE ratio of -25.17 and a beta of 2.71. The company's 50 day moving average is $8.90 and its two-hundred day moving average is $11.27. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13.

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

Insider Buying and Selling

In other news, insider James Ming Hom sold 28,388 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $281,041.20. Following the sale, the insider now directly owns 689,652 shares of the company's stock, valued at approximately $6,827,554.80. This represents a 3.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Keyvan Mohajer sold 138,895 shares of SoundHound AI stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $1,400,061.60. Following the completion of the transaction, the chief executive officer now directly owns 1,764,166 shares of the company's stock, valued at approximately $17,782,793.28. This represents a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 500,565 shares of company stock valued at $4,999,726 over the last quarter. Corporate insiders own 12.28% of the company's stock.

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.