Science & Technology Partners L.P. Takes Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Science & Technology Partners L.P. acquired a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 781,264 shares of the company's stock, valued at approximately $15,500,000. SoundHound AI comprises about 4.7% of Science & Technology Partners L.P.'s investment portfolio, making the stock its 12th biggest position. Science & Technology Partners L.P. owned about 0.20% of SoundHound AI as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commons Capital LLC increased its stake in SoundHound AI by 2.7% during the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company's stock worth $543,000 after acquiring an additional 723 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of 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 valued at $60,000 after buying an additional 750 shares during the period. Keynote Financial Services LLC boosted its holdings in SoundHound AI by 4.7% in the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company's stock worth $329,000 after acquiring an additional 752 shares during the period. Blue Trust Inc. raised its stake in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock valued at $25,000 after purchasing an additional 830 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in SoundHound AI by 16.4% during the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company's stock worth $131,000 after purchasing an additional 929 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company's stock.

Insider Activity

In related news, insider James Ming Hom sold 28,388 shares of SoundHound AI stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $281,041.20. Following the transaction, the insider now directly owns 689,652 shares of the company's stock, valued at $6,827,554.80. The trade was a 3.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diana Sroka sold 3,402 shares of the business's 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 completion of the sale, the director now owns 138,850 shares in the company, valued at $1,399,608. The trade was a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 500,565 shares of company stock worth $4,999,726. 12.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Cantor Fitzgerald raised SoundHound AI to a "hold" rating in a report on Monday, February 24th. DA Davidson lowered their price objective 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. HC Wainwright reiterated a "buy" rating and issued a $26.00 target price on shares of SoundHound AI in a research note on Monday, March 3rd. Finally, Northland Securities upped their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.43.

SoundHound AI Stock Performance

Shares of NASDAQ SOUN traded down $0.10 during midday trading on Monday, reaching $9.42. 12,263,025 shares of the company traded hands, compared to its average volume of 37,881,652. The company has a market cap of $3.76 billion, a price-to-earnings ratio of -26.11 and a beta of 2.73. The stock has a 50-day moving average price of $9.02 and a 200 day moving average price of $11.09. SoundHound AI, Inc. has a 52 week low of $3.82 and a 52 week high of $24.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share 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 company had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. Sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

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.