SG Americas Securities LLC Grows Stock Position in SoundHound AI, Inc. (NASDAQ:SOUN)

SG Americas Securities LLC grew its stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 70.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,028 shares of the company's stock after acquiring an additional 80,448 shares during the quarter. SG Americas Securities LLC owned about 0.05% of SoundHound AI worth $3,869,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. NBC Securities Inc. increased its position in SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock valued at $35,000 after buying an additional 3,818 shares in the last quarter. Amalgamated Bank increased its holdings in shares of SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company's stock valued at $39,000 after acquiring an additional 5,099 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of SoundHound AI in the 4th quarter valued at approximately $40,000. Farther Finance Advisors LLC boosted 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 worth $42,000 after purchasing an additional 6,716 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in SoundHound AI during the 2nd quarter worth approximately $43,000. 19.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. LADENBURG THALM/SH SH reaffirmed a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and issued a $26.00 target price on shares of SoundHound AI in a research note on Monday, January 13th. Barclays reiterated a "neutral" rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush raised their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Finally, DA Davidson reaffirmed a "buy" rating and set a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.36.

SoundHound AI Stock Performance

Shares of SOUN traded down $0.56 during mid-day trading on Friday, reaching $15.84. The company had a trading volume of 65,178,059 shares, compared to its average volume of 62,383,500. The stock has a 50 day moving average of $14.91 and a two-hundred day moving average of $8.58. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $5.86 billion, a P/E ratio of -44.00 and a beta of 2.63. SoundHound AI, Inc. has a 52-week low of $1.62 and a 52-week high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate 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 business had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same quarter in the prior year, the firm posted ($0.09) EPS. The business's quarterly revenue was up 88.7% compared to the same quarter last year. On average, analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at SoundHound AI

In other news, VP Majid Emami sold 94,067 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.05, for a total value of $851,306.35. Following the completion of the sale, the vice president now directly owns 735,685 shares in the company, valued at $6,657,949.25. The trade was a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Ming Hom sold 53,891 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $10.00, for a total value of $538,910.00. Following the transaction, the insider now owns 813,193 shares in the company, valued at $8,131,930. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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 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.