Vanguard Personalized Indexing Management LLC Buys Shares of 16,264 SoundHound AI, Inc. $SOUN

Key Points

• Vanguard Personalized Indexing Management LLC acquired a stake in SoundHound AI, buying 16,264 shares valued at about $175,000 during the second quarter.
• Multiple analysts have revised their ratings on SoundHound AI, with Northland Capital Market upgrading it to a "strong-buy" and DA Davidson increasing the price target from $15.00 to $17.00.
• Insiders, including CFO Nitesh Sharan, sold significant amounts of SoundHound AI stock recently, with Sharan selling 126,596 shares for over $2 million, reducing his ownership by 6.58%.

Vanguard Personalized Indexing Management LLC bought a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,264 shares of the company's stock, valued at approximately $175,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AlphaQuest LLC acquired a new stake in SoundHound AI during the 1st quarter valued at approximately $32,000. Golden State Wealth Management LLC grew its position in shares of SoundHound AI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock worth $34,000 after buying an additional 2,115 shares during the period. Kozak & Associates Inc. grew 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 during the period. Quarry LP grew its position in shares of SoundHound AI by 1,552.7% during the 1st quarter. Quarry LP now owns 5,272 shares of the company's stock worth $43,000 after buying an additional 4,953 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of SoundHound AI by 72.7% during the 1st quarter. Larson Financial Group LLC now owns 7,027 shares of the company's stock worth $57,000 after buying an additional 2,959 shares during the period. Institutional investors and hedge funds own 19.28% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on SOUN shares. Northland Capmk raised shares of SoundHound AI from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. DA Davidson raised their price objective on shares of SoundHound AI from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Wedbush reaffirmed an "outperform" rating and set a $16.00 price objective on shares of SoundHound AI in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SoundHound AI in a research report on Tuesday, October 14th. Finally, LADENBURG THALM/SH SH raised shares of SoundHound AI from a "neutral" rating to a "buy" rating and lifted their price target for the company from $9.00 to $16.00 in a research report on Monday, August 11th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.50.

Insider Buying and Selling at SoundHound AI

In other news, CFO Nitesh Sharan sold 126,596 shares of SoundHound AI stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.58, for a total transaction of $2,098,961.68. Following the sale, the chief financial officer directly owned 1,796,304 shares in the company, valued at $29,782,720.32. The trade was a 6.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Majid Emami sold 42,119 shares of SoundHound AI stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $673,904.00. Following the sale, the vice president owned 685,538 shares in the company, valued at $10,968,608. The trade was a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 785,917 shares of company stock worth $13,955,610. 9.17% of the stock is currently owned by insiders.

SoundHound AI Trading Down 1.4%

Shares of NASDAQ:SOUN opened at $17.98 on Friday. The stock's fifty day simple moving average is $15.90 and its two-hundred day simple moving average is $12.37. SoundHound AI, Inc. has a 1-year low of $4.97 and a 1-year high of $24.98. The stock has a market cap of $7.33 billion, a PE ratio of -28.54 and a beta of 2.60.

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

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.

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