Deutsche Bank AG Buys 103,450 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Deutsche Bank AG increased its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 64.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,559 shares of the company's stock after purchasing an additional 103,450 shares during the quarter. Deutsche Bank AG owned about 0.07% of SoundHound AI worth $5,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SOUN. Vanguard Group Inc. increased its holdings in shares of SoundHound AI by 35.6% in the fourth quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company's stock valued at $635,508,000 after purchasing an additional 8,402,881 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in SoundHound AI in the fourth quarter valued at approximately $41,595,000. Invesco Ltd. boosted its stake in SoundHound AI by 1,386.2% in the fourth quarter. Invesco Ltd. now owns 1,382,371 shares of the company's stock valued at $27,426,000 after acquiring an additional 1,289,360 shares during the last quarter. Driehaus Capital Management LLC bought a new position in SoundHound AI in the fourth quarter valued at approximately $16,421,000. Finally, Capital Fund Management S.A. bought a new position in SoundHound AI in the fourth quarter valued at approximately $16,092,000. 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 recent research reports. Wedbush reduced 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 note on Friday, May 9th. DA Davidson reduced their price target on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. HC Wainwright reduced their price target 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. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $10.29.

SoundHound AI Stock Up 2.1%

SOUN traded up $0.20 during trading on Thursday, hitting $9.67. The company had a trading volume of 8,736,662 shares, compared to its average volume of 37,807,055. The company has a market capitalization of $3.89 billion, a PE ratio of -26.68 and a beta of 2.71. SoundHound AI, Inc. has a one year low of $3.82 and a one year high of $24.98. The firm's 50-day moving average price is $9.10 and its 200 day moving average price is $11.59. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $29.13 million for the quarter, compared to analysts' expectations of $30.38 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm's revenue was up 151.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, Director Diana Sroka sold 3,402 shares of SoundHound AI stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.08, for a total value of $34,292.16. Following the sale, the director now directly owns 138,850 shares in the company, valued at approximately $1,399,608. The trade was a 2.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Ming Hom sold 28,388 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $281,041.20. Following the transaction, the insider now owns 689,652 shares in the company, valued at $6,827,554.80. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 548,537 shares of company stock worth $5,567,760. Insiders own 12.28% of the company's stock.

About SoundHound AI

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.