Bulltick Wealth Management LLC Takes Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Bulltick Wealth Management LLC bought a new position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 131,600 shares of the company's stock, valued at approximately $2,611,000.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake 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 valued at $25,000 after acquiring an additional 830 shares during the last quarter. Sound Income Strategies LLC boosted its position 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 worth $26,000 after buying an additional 1,271 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI in the fourth quarter valued at about $40,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of SoundHound AI during the 4th quarter valued at about $40,000. Finally, Golden State Wealth Management LLC acquired a new position in SoundHound AI during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 19.28% of the company's stock.

SoundHound AI Stock Up 0.5 %

NASDAQ:SOUN traded up $0.05 during trading hours on Wednesday, hitting $9.19. 16,559,304 shares of the company's stock traded hands, compared to its average volume of 37,645,650. SoundHound AI, Inc. has a twelve month low of $3.82 and a twelve month high of $24.98. The firm has a market cap of $3.66 billion, a P/E ratio of -25.51 and a beta of 2.71. 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's fifty day moving average price is $8.94 and its two-hundred day moving average price is $11.25.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The business had revenue of $34.54 million for 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%. On average, research analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on SOUN shares. HC Wainwright reiterated a "buy" rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday, March 3rd. DA Davidson decreased their price target on SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Northland Securities increased their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 14th. Finally, Cantor Fitzgerald raised SoundHound AI to a "hold" rating in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.43.

Insider Transactions at SoundHound AI

In related news, Director Diana Sroka sold 3,402 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $34,292.16. Following the sale, the director now directly owns 138,850 shares in the company, valued at $1,399,608. This represents a 2.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Majid Emami sold 28,392 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $281,080.80. Following the completion of the transaction, the vice president now directly owns 669,834 shares in the company, valued at approximately $6,631,356.60. This represents a 4.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 500,565 shares of company stock worth $4,999,726. 12.28% of the stock is currently owned by company insiders.

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.