Janus Henderson Group PLC Purchases 25,200 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Janus Henderson Group PLC increased its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 20.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,500 shares of the company's stock after acquiring an additional 25,200 shares during the quarter. Janus Henderson Group PLC's holdings in SoundHound AI were worth $2,964,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in SoundHound AI by 35.6% during the 4th 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 during the period. Rockefeller Capital Management L.P. acquired 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 acquired a new stake in SoundHound AI during the 4th quarter worth $16,421,000. Finally, Capital Fund Management S.A. bought a new stake in shares of SoundHound AI during the 4th quarter valued at $16,092,000. Institutional investors own 19.28% of the company's stock.

SoundHound AI Trading Down 2.9%

NASDAQ:SOUN opened at $9.97 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The business's 50-day simple moving average is $9.12 and its 200-day simple moving average is $11.60. SoundHound AI, Inc. has a fifty-two week low of $3.82 and a fifty-two week high of $24.98. The stock has a market capitalization of $4.01 billion, a PE ratio of -27.69 and a beta of 2.71.

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

Insider Buying and Selling

In other SoundHound AI news, insider James Ming Hom sold 28,388 shares of the company'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 transaction of $281,041.20. Following the completion of the transaction, the insider now owns 689,652 shares of the company's stock, valued at $6,827,554.80. This represents a 3.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Majid Emami sold 28,392 shares of SoundHound AI stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,080.80. Following the completion of the sale, the vice president now owns 669,834 shares in the company, valued at $6,631,356.60. This trade represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,537 shares of company stock valued at $5,567,760. Company insiders own 12.28% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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