SoundHound AI, Inc. (NASDAQ:SOUN) Holdings Increased by Deutsche Bank AG

Deutsche Bank AG grew its holdings in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 64.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,559 shares of the company's stock after acquiring an additional 103,450 shares during the period. Deutsche Bank AG owned about 0.07% of SoundHound AI worth $5,249,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Effects LLC acquired a new position in shares of SoundHound AI during the fourth quarter worth $357,000. Mitchell Capital Management Co. purchased a new stake in SoundHound AI during the 4th quarter worth $2,329,000. SG Americas Securities LLC increased its stake in SoundHound AI by 70.2% during the 4th quarter. SG Americas Securities LLC now owns 195,028 shares of the company's stock worth $3,869,000 after buying an additional 80,448 shares during the period. UNICOM Systems Inc. acquired a new position in SoundHound AI in the 4th quarter worth $4,662,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in SoundHound AI in the 4th quarter valued at about $594,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SoundHound AI news, CTO Timothy Stonehocker sold 44,157 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $12.00, for a total value of $529,884.00. Following the completion of the transaction, the chief technology officer now owns 723,009 shares in the company, valued at approximately $8,676,108. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keyvan Mohajer sold 118,605 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $1,174,189.50. Following the transaction, the chief executive officer now owns 1,903,061 shares of the company's stock, valued at approximately $18,840,303.90. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 548,537 shares of company stock worth $5,567,760 in the last three months. 12.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wedbush reduced their price target on SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, May 9th. DA Davidson reduced their target price on SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, April 14th. HC Wainwright decreased their price target on shares of SoundHound AI from $26.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, SoundHound AI currently has an average rating of "Hold" and a consensus price target of $10.29.

SoundHound AI Stock Performance

Shares of NASDAQ:SOUN traded down $0.92 on Monday, reaching $10.27. 37,447,562 shares of the company's stock were exchanged, compared to its average volume of 37,871,877. The business's 50-day moving average is $9.10 and its two-hundred day moving average is $11.61. 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, Inc. has a fifty-two week low of $3.82 and a fifty-two week high of $24.98. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -28.53 and a beta of 2.71.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. The firm 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%. SoundHound AI's revenue was up 151.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) earnings per share. As a group, equities research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

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.