Nisa Investment Advisors LLC Cuts Stake in SoundHound AI, Inc. (NASDAQ:SOUN)

Nisa Investment Advisors LLC reduced its position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,608 shares of the company's stock after selling 23,503 shares during the period. Nisa Investment Advisors LLC's holdings in SoundHound AI were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SOUN. Future Financial Wealth Managment LLC acquired a new stake in SoundHound AI in the 4th quarter worth about $40,000. ST Germain D J Co. Inc. boosted its stake in shares of SoundHound AI by 33.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company's stock worth $60,000 after acquiring an additional 750 shares during the last quarter. NBC Securities Inc. increased its position in shares of SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock worth $35,000 after purchasing an additional 3,818 shares in the last quarter. Farther Finance Advisors LLC raised its stake in SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company's stock valued at $42,000 after purchasing an additional 6,716 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company's stock valued at $39,000 after purchasing an additional 5,099 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company's stock.

Insider Transactions at SoundHound AI

In related news, Director Lawrence Marcus sold 30,000 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the completion of the sale, the director now directly owns 178,117 shares of the company's stock, valued at $1,273,536.55. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Timothy Stonehocker sold 34,407 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $698,462.10. Following the completion of the sale, the chief technology officer now directly owns 796,581 shares of the company's stock, valued at $16,170,594.30. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. Corporate insiders own 12.28% of the company's stock.

SoundHound AI Stock Up 1.2 %

SOUN traded up $0.16 during trading hours on Friday, hitting $14.16. 37,515,774 shares of the company's stock were exchanged, compared to its average volume of 61,048,898. The firm has a market cap of $5.24 billion, a P/E ratio of -39.39 and a beta of 2.63. SoundHound AI, Inc. has a 12-month low of $1.62 and a 12-month high of $24.98. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $15.51 and a 200 day moving average of $8.77.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The company had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same quarter last year, the company earned ($0.09) EPS. SoundHound AI's revenue for the quarter was up 88.7% compared to the same quarter last year. Analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on SOUN. HC Wainwright reaffirmed a "buy" rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th. Barclays reissued a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Northland Securities lifted their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 14th. Wedbush increased their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Finally, LADENBURG THALM/SH SH reiterated a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $12.36.

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.