Vontobel Holding Ltd. Makes New $581,000 Investment in SoundHound AI, Inc. (NASDAQ:SOUN)

Vontobel Holding Ltd. bought a new stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 71,592 shares of the company's stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SOUN. Orion Capital Management LLC acquired a new stake in shares of SoundHound AI in the 4th quarter valued at $30,000. Golden State Wealth Management LLC grew its stake in shares of SoundHound AI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock worth $34,000 after purchasing an additional 2,115 shares during the period. BIT Capital GmbH acquired a new stake in shares of SoundHound AI during the fourth quarter worth $43,000. Harbor Investment Advisory LLC grew its stake in shares of SoundHound AI by 387.1% during the first quarter. Harbor Investment Advisory LLC now owns 7,550 shares of the company's stock worth $61,000 after purchasing an additional 6,000 shares during the period. Finally, NBC Securities Inc. grew its stake in shares of SoundHound AI by 127,900.0% during the first quarter. NBC Securities Inc. now owns 7,680 shares of the company's stock worth $62,000 after purchasing an additional 7,674 shares during the period. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SOUN has been the subject of a number of analyst reports. HC Wainwright decreased their price objective on SoundHound AI from $26.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Piper Sandler started coverage on SoundHound AI in a research note on Tuesday, May 27th. They issued an "overweight" rating and a $12.00 target price for the company. Wedbush decreased their target price on 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, DA Davidson decreased their target price on SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, SoundHound AI has a consensus rating of "Moderate Buy" and a consensus target price of $10.50.

SoundHound AI Trading Up 2.6%

Shares of SoundHound AI stock traded up $0.29 during trading on Monday, reaching $11.38. The stock had a trading volume of 41,454,334 shares, compared to its average volume of 38,671,266. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of -20.69 and a beta of 2.59. The stock has a fifty day moving average price of $9.98 and a two-hundred day moving average price of $11.55. SoundHound AI, Inc. has a 52 week low of $3.94 and a 52 week high of $24.98.

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

Insider Buying and Selling at SoundHound AI

In related news, Director Diana Sroka sold 2,800 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $9.94, for a total transaction of $27,832.00. Following the sale, the director owned 153,949 shares in the company, valued at approximately $1,530,253.06. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Nitesh Sharan sold 111,111 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $9.36, for a total value of $1,039,998.96. Following the sale, the chief financial officer owned 1,442,900 shares in the company, valued at $13,505,544. The trade was a 7.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 961,289 shares of company stock valued at $9,247,847 in the last ninety days. Insiders own 9.17% of the company's stock.

SoundHound AI 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.