ProShare Advisors LLC Has $1.72 Million Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

ProShare Advisors LLC boosted its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 57.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,876 shares of the company's stock after buying an additional 31,621 shares during the quarter. ProShare Advisors LLC's holdings in SoundHound AI were worth $1,724,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Commons Capital LLC boosted its stake in shares of SoundHound AI by 2.7% during the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company's stock worth $543,000 after acquiring an additional 723 shares in the last quarter. SG Americas Securities LLC lifted its holdings in SoundHound AI by 70.2% in the 4th quarter. SG Americas Securities LLC now owns 195,028 shares of the company's stock worth $3,869,000 after purchasing an additional 80,448 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in SoundHound AI during the fourth quarter worth approximately $411,000. Mutual Advisors LLC acquired a new position in SoundHound AI during the fourth quarter valued at approximately $320,000. Finally, Burr Financial Services LLC bought a new position in shares of SoundHound AI in the fourth quarter valued at approximately $462,000. 19.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at SoundHound AI

In other news, Director Diana Sroka sold 3,402 shares of the 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 completion of the transaction, the director now owns 138,850 shares in the company, valued at approximately $1,399,608. This represents a 2.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Timothy Stonehocker sold 3,333 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $33,596.64. Following the transaction, the chief technology officer now directly owns 765,534 shares of the company's stock, valued at $7,716,582.72. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 548,537 shares of company stock valued at $5,567,760. 12.28% of the stock is owned by corporate insiders.

SoundHound AI Stock Performance

NASDAQ SOUN opened at $9.47 on Thursday. The company's fifty day moving average is $9.10 and its two-hundred day moving average is $11.59. SoundHound AI, Inc. has a 52-week low of $3.82 and a 52-week 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 firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -26.31 and a beta of 2.71.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business had revenue of $29.13 million for the quarter, compared to the consensus estimate of $30.38 million. During the same period last year, the business earned ($0.07) earnings per share. The firm's revenue for the quarter was up 151.2% compared to the same quarter last year. 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.

Want to see what other hedge funds are holding SOUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SoundHound AI, Inc. (NASDAQ:SOUN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.