Fluent Financial LLC Invests $1.08 Million in SoundHound AI, Inc. $SOUN

Key Points

• Fluent Financial purchased a new stake of 67,370 shares of SoundHound AI (approximately $1.08 million) in the third quarter, according to its latest 13F filing.
• Insider selling: VP Majid Emami and CTO Timothy Stonehocker sold 41,167 and 70,524 shares respectively on October 8 at $20 each, and insiders have sold 787,260 shares (~$13.97M) over the last three months, leaving insiders with 9.17% ownership.
• Company and analyst snapshot: SoundHound beat Q3 EPS estimates (‑$0.03 vs. ‑$0.09) with revenue up 67.6% year-over-year, and analysts hold a "Moderate Buy" consensus with a $17.07 average price target.

Fluent Financial LLC purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 67,370 shares of the company's stock, valued at approximately $1,083,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in SoundHound AI by 8.3% in the 2nd quarter. Geode Capital Management LLC now owns 8,830,144 shares of the company's stock valued at $94,759,000 after buying an additional 679,436 shares in the last quarter. State Street Corp boosted its position in shares of SoundHound AI by 9.1% during the 2nd quarter. State Street Corp now owns 8,476,348 shares of the company's stock valued at $90,951,000 after acquiring an additional 708,369 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SoundHound AI by 1.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,024,632 shares of the company's stock valued at $53,906,000 after purchasing an additional 50,904 shares during the period. Northern Trust Corp increased its position in SoundHound AI by 2.5% during the first quarter. Northern Trust Corp now owns 2,979,011 shares of the company's stock worth $24,190,000 after purchasing an additional 72,766 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in SoundHound AI by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company's stock worth $21,434,000 after purchasing an additional 1,085,473 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company's stock.

Insider Activity at SoundHound AI

In other news, VP Majid Emami sold 41,167 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction of $823,340.00. Following the sale, the vice president owned 608,186 shares of the company's stock, valued at approximately $12,163,720. This represents a 6.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Timothy Stonehocker sold 70,524 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction of $1,410,480.00. Following the completion of the transaction, the chief technology officer directly owned 606,525 shares of the company's stock, valued at approximately $12,130,500. The trade was a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 787,260 shares of company stock valued at $13,973,056. 9.17% of the stock is owned by company insiders.

SoundHound AI Stock Up 1.2%

NASDAQ:SOUN opened at $11.02 on Friday. SoundHound AI, Inc. has a 52 week low of $6.52 and a 52 week high of $24.98. The stock's fifty day moving average is $14.31 and its two-hundred day moving average is $13.40. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of -13.12 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.06. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The business had revenue of $42.05 million during the quarter, compared to analysts' expectations of $40.48 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The company's revenue was up 67.6% on a year-over-year basis. On average, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. DA Davidson reissued a "buy" rating and issued a $17.00 price target on shares of SoundHound AI in a research note on Tuesday, November 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of SoundHound AI in a research report on Tuesday, October 14th. LADENBURG THALM/SH SH upgraded SoundHound AI to a "strong-buy" rating in a research report on Thursday. Oppenheimer began coverage on SoundHound AI in a research note on Thursday, September 11th. They issued a "market perform" rating on the stock. Finally, HC Wainwright raised their price objective on SoundHound AI from $18.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, SoundHound AI currently has an average rating of "Moderate Buy" and a consensus price target of $17.07.

SoundHound AI Company 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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