Themes Management Co LLC Takes Position in SoundHound AI, Inc. $SOUN

Key Points

• Themes Management Co LLC opened a new position in SoundHound AI in the fourth quarter, buying 102,624 shares worth about $1.02 million.
• Institutional interest in SOUN remains mixed but present, with several funds adding shares and 19.28% of the stock now owned by institutional investors.
• SoundHound AI reported Q1 revenue of $44.2 million, topping estimates, but posted an EPS loss of $0.06 and remains unprofitable; analysts currently view the stock as a Moderate Buy with a $14.93 consensus target.

Themes Management Co LLC bought a new position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 102,624 shares of the company's stock, valued at approximately $1,023,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SOUN. Northwestern Mutual Wealth Management Co. grew its position in shares of SoundHound AI by 83.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company's stock worth $25,000 after buying an additional 1,060 shares in the last quarter. Dogwood Wealth Management LLC grew its holdings in SoundHound AI by 152.1% during the 4th quarter. Dogwood Wealth Management LLC now owns 2,559 shares of the company's stock worth $26,000 after acquiring an additional 1,544 shares in the last quarter. Danske Bank A S purchased a new position in SoundHound AI during the 3rd quarter valued at about $26,000. Parallel Advisors LLC increased its position in SoundHound AI by 42.8% during the 3rd quarter. Parallel Advisors LLC now owns 3,204 shares of the company's stock valued at $52,000 after purchasing an additional 960 shares during the period. Finally, Spire Wealth Management raised its holdings in shares of SoundHound AI by 43.7% in the 4th quarter. Spire Wealth Management now owns 5,472 shares of the company's stock valued at $55,000 after purchasing an additional 1,664 shares in the last quarter. 19.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOUN has been the subject of several research reports. DA Davidson reaffirmed a "buy" rating and issued a $14.00 price target on shares of SoundHound AI in a research report on Wednesday, April 22nd. Zacks Research raised shares of SoundHound AI from a "strong sell" rating to a "hold" rating in a report on Monday, February 9th. Piper Sandler reissued a "neutral" rating and issued a $9.00 price objective (down from $11.00) on shares of SoundHound AI in a research note on Friday, February 27th. HC Wainwright lowered their target price on SoundHound AI from $26.00 to $20.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Finally, LADENBURG THALM/SH SH raised SoundHound AI to a "strong-buy" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.93.

Insider Activity at SoundHound AI

In other news, CEO Keyvan Mohajer sold 124,510 shares of the business's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $6.79, for a total transaction of $845,422.90. Following the sale, the chief executive officer owned 2,073,777 shares in the company, valued at approximately $14,080,945.83. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nitesh Sharan sold 44,027 shares of the business's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $6.79, for a total value of $298,943.33. Following the sale, the chief financial officer owned 1,661,121 shares in the company, valued at $11,279,011.59. The trade was a 2.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 307,973 shares of company stock worth $2,091,110 over the last ninety days. Corporate insiders own 8.84% of the company's stock.

SoundHound AI Price Performance

Shares of SOUN opened at $8.17 on Tuesday. The company has a 50 day moving average of $7.60 and a two-hundred day moving average of $9.39. SoundHound AI, Inc. has a twelve month low of $5.83 and a twelve month high of $22.17. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -17.38 and a beta of 2.58.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $44.20 million for the quarter, compared to analyst estimates of $42.56 million. SoundHound AI had a negative return on equity of 40.15% and a negative net margin of 91.84%.The business's revenue for the quarter was up 51.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, sell-side analysts expect that SoundHound AI, Inc. will post -0.43 EPS for the current year.

SoundHound AI Profile

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company's core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.

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