UNICOM Systems Inc. Makes New Investment in SoundHound AI, Inc. (NASDAQ:SOUN)

UNICOM Systems Inc. purchased a new position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 235,000 shares of the company's stock, valued at approximately $4,662,000. SoundHound AI makes up about 1.1% of UNICOM Systems Inc.'s investment portfolio, making the stock its 15th biggest holding. UNICOM Systems Inc. owned 0.06% of SoundHound AI as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in SOUN. Sound Income Strategies LLC increased its stake in shares of SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock worth $26,000 after purchasing an additional 1,271 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in SoundHound AI in the fourth quarter worth $40,000. Golden State Wealth Management LLC acquired a new position in SoundHound AI during the fourth quarter worth $42,000. ST Germain D J Co. Inc. raised its holdings in SoundHound AI by 33.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company's stock valued at $60,000 after buying an additional 750 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in shares of SoundHound AI in the fourth quarter worth about $64,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Stock Performance

NASDAQ:SOUN traded down $4.47 during trading hours on Friday, hitting $10.79. 161,664,462 shares of the company traded hands, compared to its average volume of 57,873,922. SoundHound AI, Inc. has a twelve month low of $3.11 and a twelve month high of $24.98. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of -29.96 and a beta of 2.56. The firm has a 50-day moving average of $16.70 and a 200 day moving average of $9.45. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $23.02 million. During the same quarter last year, the company earned ($0.09) EPS. SoundHound AI's revenue was up 88.7% on a year-over-year basis. On average, analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Lawrence Marcus sold 30,000 shares of SoundHound AI stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $7.15, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Timothy Stonehocker sold 34,407 shares of the company'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 owns 796,581 shares of the company's stock, valued at $16,170,594.30. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock valued at $45,391,343 over the last three months. 12.28% of the stock is owned by insiders.

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.