201,835 Shares in SoundHound AI, Inc. $SOUN Bought by Liontrust Investment Partners LLP

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 bought a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 201,835 shares of the company's stock, valued at approximately $1,639,000. Liontrust Investment Partners LLP owned about 0.05% of SoundHound AI as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in SoundHound AI by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company's stock worth $284,687,000 after acquiring an additional 3,028,281 shares during the period. Northern Trust Corp grew its position in SoundHound AI by 10.0% during the fourth quarter. Northern Trust Corp now owns 2,906,245 shares of the company's stock valued at $57,660,000 after buying an additional 264,382 shares during the period. Charles Schwab Investment Management Inc. increased its position in SoundHound AI by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,847,261 shares of the company's stock worth $23,120,000 after buying an additional 121,568 shares during the last quarter. Invesco Ltd. boosted its position in SoundHound AI by 1,386.2% during the fourth quarter. Invesco Ltd. now owns 1,382,371 shares of the company's stock worth $27,426,000 after purchasing an additional 1,289,360 shares during the period. Finally, LPL Financial LLC grew its stake in SoundHound AI by 7.5% in the 1st quarter. LPL Financial LLC now owns 1,346,805 shares of the company's stock valued at $10,936,000 after buying an additional 93,833 shares in the last quarter. Institutional investors own 19.28% of the company's stock.

SoundHound AI Stock Performance

SoundHound AI stock traded down $0.86 during mid-day trading on Wednesday, hitting $12.44. The company's stock had a trading volume of 42,207,516 shares, compared to its average volume of 50,817,272. The stock has a market cap of $5.00 billion, a PE ratio of -19.75 and a beta of 2.57. The company has a 50 day moving average of $11.59 and a 200-day moving average of $10.55. SoundHound AI, Inc. has a one year low of $4.32 and a one year high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.13). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The firm had revenue of $42.68 million during the quarter, compared to analysts' expectations of $32.88 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. SoundHound AI's quarterly revenue was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, VP Majid Emami sold 132,352 shares of the company's stock in a transaction on 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 sale, the vice president directly owned 537,482 shares of the company's stock, valued at $5,396,319.28. This represents a 19.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keyvan Mohajer sold 254,376 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,749,790 shares in the company, valued at approximately $16,378,034.40. This trade represents a 12.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 913,317 shares of company stock valued at $8,679,813. 9.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SOUN shares. Wall Street Zen lowered SoundHound AI from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. HC Wainwright decreased their price target on SoundHound AI from $26.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Northland Securities upgraded SoundHound AI from a "market perform" rating to an "outperform" rating and set a $14.50 target price for the company in a report on Friday, August 8th. Northland Capmk raised SoundHound AI from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Piper Sandler reissued a "neutral" rating and set a $12.00 price objective on shares of SoundHound AI in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, SoundHound AI currently has an average rating of "Moderate Buy" and an average 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.