Liontrust Investment Partners LLP Buys Shares of 201,835 SoundHound AI, Inc. $SOUN

Key Points

• Liontrust Investment Partners LLP purchased 201,835 shares of SoundHound AI, Inc. (NASDAQ:SOUN) for approximately $1.64 million, representing 0.05% of the company as of their latest SEC filing.
• SoundHound AI reported a revenue increase of 216.3% year-over-year, with quarterly earnings per share of ($0.19), missing analysts' expectations by ($0.13).
• Recent analyst coverage shows a shift in sentiment, with a number of upgrades on SoundHound AI, raising its average target price to $13.36.

Liontrust Investment Partners LLP purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 201,835 shares of the company's stock, valued at approximately $1,639,000. Liontrust Investment Partners LLP owned approximately 0.05% of SoundHound AI as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SOUN. Virtu Financial LLC purchased a new stake in SoundHound AI in the 1st quarter worth about $2,395,000. Carnegie Investment Counsel raised its position in shares of SoundHound AI by 8.9% in the 1st quarter. Carnegie Investment Counsel now owns 1,069,860 shares of the company's stock worth $8,131,000 after acquiring an additional 87,810 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in SoundHound AI by 38.4% during the 1st quarter. Thoroughbred Financial Services LLC now owns 113,475 shares of the company's stock valued at $921,000 after acquiring an additional 31,500 shares during the period. Yarbrough Capital LLC bought a new position in SoundHound AI in the first quarter worth about $1,258,000. Finally, Deutsche Bank AG increased its holdings in SoundHound AI by 64.2% in the 4th quarter. Deutsche Bank AG now owns 264,559 shares of the company's stock valued at $5,249,000 after acquiring an additional 103,450 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors.

SoundHound AI Price Performance

NASDAQ:SOUN traded down $0.95 during mid-day trading on Friday, reaching $15.59. The company's stock had a trading volume of 40,879,785 shares, compared to its average volume of 51,125,336. The company's fifty day simple moving average is $11.37 and its two-hundred day simple moving average is $10.51. SoundHound AI, Inc. has a twelve month low of $4.32 and a twelve month high of $24.98. The stock has a market cap of $6.26 billion, a P/E ratio of -24.75 and a beta of 2.57.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The firm had revenue of $42.68 million during the quarter, compared to the consensus estimate of $32.88 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The firm's revenue was up 216.3% on a year-over-year basis. Sell-side analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at SoundHound AI

In related news, VP Majid Emami sold 132,352 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $10.04, for a total value of $1,328,814.08. Following the completion of the sale, the vice president owned 537,482 shares of the company's stock, valued at $5,396,319.28. This represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Keyvan Mohajer sold 254,376 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $9.36, for a total value of $2,380,959.36. Following the transaction, the chief executive officer directly owned 1,749,790 shares in the company, valued at $16,378,034.40. The trade was a 12.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 913,317 shares of company stock valued at $8,679,813 over the last three months. Corporate insiders own 9.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SOUN shares. HC Wainwright lowered their target price on shares of SoundHound AI from $26.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Piper Sandler reaffirmed a "neutral" rating and set a $12.00 target price on shares of SoundHound AI in a research note on Monday, July 14th. Northland Securities raised SoundHound AI from a "market perform" rating to an "outperform" rating and set a $14.50 target price for the company in a research report on Friday, August 8th. LADENBURG THALM/SH SH raised shares of SoundHound AI from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $9.00 to $16.00 in a research note on Monday, August 11th. Finally, Wedbush boosted their price target on shares of SoundHound AI from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.36.

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.