SG Americas Securities LLC Has $629,000 Position in SoundHound AI, Inc. (NASDAQ:SOUN)

SG Americas Securities LLC lowered its holdings in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 60.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,471 shares of the company's stock after selling 117,557 shares during the quarter. SG Americas Securities LLC's holdings in SoundHound AI were worth $629,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keynote Financial Services LLC lifted its stake in SoundHound AI by 4.7% in the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company's stock valued at $329,000 after buying an additional 752 shares during the period. Blue Trust Inc. increased its holdings in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after acquiring an additional 830 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of SoundHound AI by 16.4% in the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company's stock worth $131,000 after acquiring an additional 929 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of SoundHound AI by 13.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 8,317 shares of the company's stock worth $165,000 after acquiring an additional 1,000 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of SoundHound AI by 3.7% in the fourth quarter. CreativeOne Wealth LLC now owns 29,991 shares of the company's stock worth $595,000 after acquiring an additional 1,073 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SOUN shares. HC Wainwright lowered their price target on SoundHound AI from $26.00 to $18.00 and set a "buy" rating for the company in a report on Monday, May 12th. Piper Sandler initiated coverage on SoundHound AI in a report on Tuesday, May 27th. They set an "overweight" rating and a $12.00 price objective for the company. Cantor Fitzgerald upgraded SoundHound AI to a "hold" rating in a report on Monday, February 24th. DA Davidson decreased their price objective on SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Wedbush decreased their price objective on SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.50.

SoundHound AI Price Performance

SOUN stock traded up $0.15 during mid-day trading on Friday, reaching $9.57. The company had a trading volume of 24,709,122 shares, compared to its average volume of 39,067,136. The stock has a 50 day simple moving average of $9.58 and a two-hundred day simple moving average of $12.00. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of -17.40 and a beta of 2.64. SoundHound AI, Inc. has a 52 week low of $3.82 and a 52 week high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.03. SoundHound AI had a negative return on equity of 68.55% and a negative net margin of 184.34%. The company had revenue of $29.13 million during the quarter, compared to analysts' expectations of $30.38 million. During the same period last year, the firm posted ($0.07) earnings per share. The business's revenue was up 151.2% on a year-over-year basis. On average, equities analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Insider Activity

In related news, CEO Keyvan Mohajer sold 138,895 shares of SoundHound AI stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the completion of the sale, the chief executive officer now directly owns 1,764,166 shares of the company's stock, valued at approximately $17,782,793.28. This trade represents a 7.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Timothy Stonehocker sold 3,333 shares of SoundHound AI stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $33,596.64. Following the sale, the chief technology officer now directly owns 765,534 shares of the company's stock, valued at approximately $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. Insiders sold a total of 377,150 shares of company stock valued at $3,889,557 over the last three months. Insiders own 9.17% of the company's stock.

About SoundHound AI

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.