SoundHound AI, Inc. $SOUN Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC has decreased its stake in SoundHound AI by 74.6%, reducing its holdings to 30,120 shares worth $245,000.
• SoundHound AI's stock has a market cap of $4.90 billion and recently reported quarterly earnings, missing EPS estimates but exceeding revenue expectations significantly.
• Recent insider trading activity included CEO Keyvan Mohajer selling over 254,000 shares, representing a 12.69% reduction in his ownership stake.

Algert Global LLC lowered its stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 74.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 30,120 shares of the company's stock after selling 88,410 shares during the quarter. Algert Global LLC's holdings in SoundHound AI were worth $245,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Orion Capital Management LLC purchased a new position in SoundHound AI in the 4th quarter valued at $30,000. Golden State Wealth Management LLC lifted its holdings in SoundHound AI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock valued at $34,000 after purchasing an additional 2,115 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in SoundHound AI in the 4th quarter valued at $88,000. Sunbelt Securities Inc. lifted its holdings in SoundHound AI by 153.1% in the 4th quarter. Sunbelt Securities Inc. now owns 4,555 shares of the company's stock valued at $90,000 after purchasing an additional 2,755 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in SoundHound AI by 72.7% in the 1st quarter. Larson Financial Group LLC now owns 7,027 shares of the company's stock valued at $57,000 after purchasing an additional 2,959 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company's stock.

Wall Street Analyst Weigh In

SOUN has been the topic of a number of research reports. Wedbush raised their price objective on SoundHound AI from $15.00 to $16.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Wall Street Zen lowered SoundHound AI from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Northland Capmk upgraded SoundHound AI from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. LADENBURG THALM/SH SH upgraded SoundHound AI from a "neutral" rating to a "buy" rating and raised their price objective for the company from $9.00 to $16.00 in a report on Monday, August 11th. Finally, Piper Sandler reiterated a "neutral" rating and set a $12.00 price target on shares of SoundHound AI in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.36.

SoundHound AI Trading Down 0.9%

SOUN traded down $0.11 on Wednesday, hitting $11.91. The company had a trading volume of 51,557,076 shares, compared to its average volume of 41,619,453. The firm has a market cap of $4.86 billion, a P/E ratio of -18.90 and a beta of 2.57. SoundHound AI, Inc. has a 1 year low of $4.32 and a 1 year high of $24.98. The company's fifty day moving average price is $11.82 and its 200 day moving average price is $10.43.

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

Insider Transactions at SoundHound AI

In related news, Director Diana Sroka sold 2,800 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $9.94, for a total value of $27,832.00. Following the sale, the director directly owned 153,949 shares in the company, valued at approximately $1,530,253.06. The trade was a 1.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Timothy Stonehocker sold 2,981 shares of SoundHound AI stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $9.68, for a total value of $28,856.08. Following the completion of the transaction, the chief technology officer directly owned 716,866 shares of the company's stock, valued at approximately $6,939,262.88. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 913,317 shares of company stock worth $8,679,813 in the last 90 days. Insiders own 9.17% 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.