SoundHound AI, Inc. $SOUN Stock Holdings Increased by Capital Advisors Inc. OK

Key Points

• Capital Advisors Inc. OK increased its holdings in SoundHound AI, Inc. by 140.8% in Q2, owning 30,000 shares valued at approximately $322,000.
• Wall Street analysts maintain a Moderate Buy rating for SoundHound AI, with a consensus target price of $14.36 and varying ratings from "Strong Buy" to "Sell".
• Insider trading includes significant sales by CTO Timothy Stonehocker and COO Michael Zagorsek, who sold shares valued at a combined $1.16 million over recent weeks.

Capital Advisors Inc. OK grew its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 140.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 30,000 shares of the company's stock after acquiring an additional 17,540 shares during the quarter. Capital Advisors Inc. OK's holdings in SoundHound AI were worth $322,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. AlphaQuest LLC bought a new stake in shares of SoundHound AI during the first quarter valued at about $32,000. Golden State Wealth Management LLC increased its stake in SoundHound AI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock valued at $34,000 after buying an additional 2,115 shares during the period. Kozak & Associates Inc. raised its position in shares of SoundHound AI by 6,249.0% during the 2nd quarter. Kozak & Associates Inc. now owns 3,238 shares of the company's stock worth $35,000 after buying an additional 3,187 shares in the last quarter. Quarry LP lifted its stake in shares of SoundHound AI by 1,552.7% in the 1st quarter. Quarry LP now owns 5,272 shares of the company's stock worth $43,000 after acquiring an additional 4,953 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of SoundHound AI by 72.7% in the first quarter. Larson Financial Group LLC now owns 7,027 shares of the company's stock valued at $57,000 after acquiring an additional 2,959 shares in the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler reissued a "neutral" rating and set a $12.00 target price on shares of SoundHound AI in a report on Monday, July 14th. Wall Street Zen downgraded SoundHound AI from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of SoundHound AI in a research note on Wednesday, September 17th. Northland Capmk upgraded shares of SoundHound AI from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Northland Securities raised shares of SoundHound AI from a "market perform" rating to an "outperform" rating and set a $14.50 price target for the company in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.36.

Insider Buying and Selling at SoundHound AI

In related news, CTO Timothy Stonehocker sold 2,247 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $17.90, for a total value of $40,221.30. Following the completion of the sale, the chief technology officer owned 677,049 shares in the company, valued at approximately $12,119,177.10. This represents a 0.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Zagorsek sold 69,837 shares of SoundHound AI stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $1,117,392.00. Following the transaction, the chief operating officer owned 1,860,790 shares in the company, valued at approximately $29,772,640. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 495,196 shares of company stock valued at $8,068,135 over the last three months. 9.17% of the stock is owned by insiders.

SoundHound AI Stock Up 2.2%

Shares of SoundHound AI stock opened at $18.25 on Tuesday. SoundHound AI, Inc. has a 12-month low of $4.56 and a 12-month high of $24.98. The firm has a market capitalization of $7.44 billion, a PE ratio of -28.97 and a beta of 2.60. The stock's fifty day moving average is $14.17 and its 200-day moving average is $11.37.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The company had revenue of $42.68 million during the quarter, compared to analysts' expectations of $32.88 million. During the same period in the prior year, the business posted ($0.11) EPS. The company's revenue for the quarter was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. Analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current year.

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.

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