Clear Creek Financial Management LLC Has $235,000 Stock Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Clear Creek Financial Management LLC cut its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 58.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,961 shares of the company's stock after selling 39,946 shares during the period. Clear Creek Financial Management LLC's holdings in SoundHound AI were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SOUN. Yarbrough Capital LLC bought a new stake in shares of SoundHound AI during the first quarter worth $1,258,000. Deutsche Bank AG boosted its stake in SoundHound AI by 64.2% in the 4th quarter. Deutsche Bank AG now owns 264,559 shares of the company's stock worth $5,249,000 after purchasing an additional 103,450 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in SoundHound AI by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,725,693 shares of the company's stock worth $54,078,000 after purchasing an additional 143,487 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in SoundHound AI during the 4th quarter worth about $41,595,000. Finally, Bulltick Wealth Management LLC acquired a new stake in shares of SoundHound AI in the 4th quarter valued at about $2,611,000. 19.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoundHound AI

In related news, COO Michael Zagorsek sold 117,180 shares of SoundHound AI stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $9.36, for a total transaction of $1,096,804.80. Following the completion of the transaction, the chief operating officer owned 1,346,455 shares in the company, valued at approximately $12,602,818.80. This trade represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James Ming Hom sold 79,530 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $9.36, for a total value of $744,400.80. Following the completion of the sale, the insider owned 637,560 shares in the company, valued at $5,967,561.60. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 961,289 shares of company stock worth $9,247,847 over the last ninety days. Company insiders own 9.17% of the company's stock.

SoundHound AI Trading Down 1.7%

Shares of NASDAQ:SOUN traded down $0.20 during trading on Friday, hitting $11.06. 24,813,293 shares of the company were exchanged, compared to its average volume of 40,042,921. SoundHound AI, Inc. has a fifty-two week low of $3.87 and a fifty-two week high of $24.98. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -20.10 and a beta of 2.59. The firm has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $11.72.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. The business had revenue of $29.13 million for the quarter, compared to the consensus estimate of $30.38 million. SoundHound AI had a negative net margin of 184.34% and a negative return on equity of 68.55%. The firm's revenue for the quarter was up 151.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. As a group, research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on SOUN shares. HC Wainwright reduced their price objective on SoundHound AI from $26.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, May 12th. DA Davidson reduced their price target on SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Piper Sandler assumed coverage on shares of SoundHound AI in a research note on Tuesday, May 27th. They set an "overweight" rating and a $12.00 price target for the company. Finally, Wedbush cut their price objective on shares of SoundHound AI from $22.00 to $15.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.50.

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.