UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 234,914 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 59.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 628,772 shares of the company's stock after acquiring an additional 234,914 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of SoundHound AI worth $12,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of SoundHound AI by 197.6% during the 4th 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. Compagnie Lombard Odier SCmA bought a new position in SoundHound AI in the 4th quarter valued at approximately $40,000. Golden State Wealth Management LLC bought a new position in SoundHound AI in the 4th quarter valued at approximately $42,000. BIT Capital GmbH bought a new position in SoundHound AI in the 4th quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC bought a new position in SoundHound AI in the 4th quarter valued at approximately $64,000. Institutional investors and hedge funds own 19.28% of the company's stock.

Insider Buying and Selling

In related news, insider James Ming Hom sold 28,388 shares of SoundHound AI stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,041.20. Following the completion of the transaction, the insider now owns 689,652 shares of the company's stock, valued at $6,827,554.80. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Majid Emami sold 28,392 shares of SoundHound AI stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $281,080.80. Following the transaction, the vice president now directly owns 669,834 shares of the company's stock, valued at $6,631,356.60. This represents a 4.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 548,537 shares of company stock valued at $5,567,760 over the last quarter. Insiders own 12.28% of the company's stock.

SoundHound AI Trading Down 4.1%

Shares of SOUN stock traded down $0.43 during trading hours on Friday, hitting $10.10. 26,470,348 shares of the company's stock traded hands, compared to its average volume of 38,374,303. The stock's 50 day simple moving average is $9.14 and its 200 day simple moving average is $11.76. The stock has a market cap of $4.06 billion, a PE ratio of -28.06 and a beta of 2.71. SoundHound AI, Inc. has a 12 month low of $3.82 and a 12 month high of $24.98. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced 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 net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $29.13 million during the quarter, compared to the consensus estimate of $30.38 million. During the same quarter last year, the firm earned ($0.07) earnings per share. SoundHound AI's quarterly revenue was up 151.2% on a year-over-year basis. On average, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a research note on Monday, February 24th. Piper Sandler assumed coverage on shares of SoundHound AI in a research note on Tuesday. They issued an "overweight" rating and a $12.00 price objective for the company. DA Davidson dropped their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wedbush dropped their price objective on shares of SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, HC Wainwright dropped their price objective on shares of 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 analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.50.

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.