Aquatic Capital Management LLC Purchases Shares of 267,578 SoundHound AI, Inc. $SOUN

Key Points

• Aquatic Capital Management LLC acquired a new position of 267,578 shares of SoundHound AI in Q3, valued at about $4.3 million, representing roughly 0.07% of the company.
• SoundHound reported quarterly revenue of $55.06 million (up 59.4% year‑over‑year) and EPS of ($0.02)—in line with estimates—while analysts rate the stock a "Moderate Buy" with an average price target of $14.93.
• Insiders sold approximately 460,922 shares (~$5.2 million) last quarter (insiders own 9.17%), and institutional/hedge funds hold about 19.28% of SoundHound's stock.

Aquatic Capital Management LLC acquired a new position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 267,578 shares of the company's stock, valued at approximately $4,303,000. Aquatic Capital Management LLC owned about 0.07% of SoundHound AI as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in SoundHound AI by 83.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company's stock worth $25,000 after purchasing an additional 1,060 shares during the period. Advisors Asset Management Inc. boosted its position in SoundHound AI by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company's stock valued at $27,000 after buying an additional 1,023 shares during the period. Investors Research Corp grew its stake in shares of SoundHound AI by 62.4% during the third quarter. Investors Research Corp now owns 1,822 shares of the company's stock valued at $29,000 after buying an additional 700 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of SoundHound AI during the third quarter valued at about $32,000. Finally, Sound Income Strategies LLC increased its holdings in shares of SoundHound AI by 37.3% in the third quarter. Sound Income Strategies LLC now owns 2,116 shares of the company's stock worth $34,000 after buying an additional 575 shares during the period. Hedge funds and other institutional investors own 19.28% of the company's stock.

SoundHound AI Price Performance

Shares of NASDAQ:SOUN opened at $7.54 on Tuesday. SoundHound AI, Inc. has a 1 year low of $6.52 and a 1 year high of $22.17. The company has a market cap of $3.17 billion, a PE ratio of -150.77 and a beta of 2.65. The stock's 50-day moving average is $9.00 and its 200 day moving average is $12.47.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). SoundHound AI had a negative return on equity of 3.63% and a negative net margin of 8.71%.The business had revenue of $55.06 million during the quarter, compared to analysts' expectations of $53.88 million. During the same quarter last year, the business posted ($0.05) EPS. The business's revenue was up 59.4% on a year-over-year basis. Analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SOUN shares. HC Wainwright dropped their target price on SoundHound AI from $26.00 to $20.00 and set a "buy" rating for the company in a report on Monday, March 2nd. DA Davidson set a $14.00 price target on SoundHound AI in a research note on Thursday, January 8th. Zacks Research upgraded SoundHound AI from a "strong sell" rating to a "hold" rating in a research report on Monday, February 9th. Piper Sandler reissued a "neutral" rating and set a $9.00 price objective (down from $11.00) on shares of SoundHound AI in a research note on Friday, February 27th. Finally, LADENBURG THALM/SH SH upgraded shares of SoundHound AI to a "strong-buy" rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SoundHound AI has an average rating of "Moderate Buy" and an average price target of $14.93.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, COO Michael Zagorsek sold 73,406 shares of the company's stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $11.28, for a total value of $828,019.68. Following the completion of the transaction, the chief operating officer directly owned 1,787,459 shares in the company, valued at approximately $20,162,537.52. This represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Majid Emami sold 42,600 shares of the firm's stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $11.28, for a total transaction of $480,528.00. Following the completion of the sale, the senior vice president directly owned 565,586 shares of the company's stock, valued at approximately $6,379,810.08. This represents a 7.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 460,922 shares of company stock worth $5,199,073. 9.17% of the stock is owned by corporate insiders.

SoundHound AI Profile

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company's core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.

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