JT Stratford LLC Sells 99,398 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

JT Stratford LLC decreased its position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,459 shares of the company's stock after selling 99,398 shares during the quarter. SoundHound AI makes up 0.7% of JT Stratford LLC's portfolio, making the stock its 27th biggest position. JT Stratford LLC owned approximately 0.05% of SoundHound AI worth $4,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after buying an additional 830 shares during the period. Sound Income Strategies LLC boosted its stake in SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock worth $26,000 after acquiring an additional 1,271 shares in the last quarter. Orion Capital Management LLC purchased a new stake in SoundHound AI in the fourth quarter worth about $30,000. Compagnie Lombard Odier SCmA purchased a new stake in SoundHound AI in the fourth quarter worth about $40,000. Finally, Golden State Wealth Management LLC bought a new position in shares of SoundHound AI during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 19.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SOUN. HC Wainwright dropped 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. Wedbush lowered their price objective on SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald raised SoundHound AI to a "hold" rating in a research note on Monday, February 24th. Finally, 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 report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.29.

SoundHound AI Stock Up 0.3%

NASDAQ SOUN traded up $0.03 during mid-day trading on Friday, reaching $9.58. The stock had a trading volume of 21,307,063 shares, compared to its average volume of 37,930,894. The stock has a market cap of $3.85 billion, a PE ratio of -26.61 and a beta of 2.71. SoundHound AI, Inc. has a 1 year low of $3.82 and a 1 year high of $24.98. 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 company has a fifty day moving average price of $9.09 and a 200 day moving average price of $11.65.

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

Insiders Place Their Bets

In related news, VP Majid Emami sold 28,392 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,080.80. Following the sale, the vice president now owns 669,834 shares in the company, valued at approximately $6,631,356.60. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Ming Hom sold 28,388 shares of SoundHound AI 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 sale, the insider now directly owns 689,652 shares of the company's stock, valued at approximately $6,827,554.80. This trade represents a 3.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 548,537 shares of company stock valued at $5,567,760. 12.28% of the stock is owned by insiders.

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.