2,000 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Purchased by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA purchased a new position in SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also bought and sold shares of SOUN. Sound Income Strategies LLC increased its stake in shares of SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 1,271 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of SoundHound AI during the 4th quarter valued at about $40,000. Golden State Wealth Management LLC acquired a new position in shares of SoundHound AI in the 4th quarter valued at about $42,000. ST Germain D J Co. Inc. lifted its stake in shares of SoundHound AI by 33.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after purchasing an additional 750 shares during the period. Finally, Avior Wealth Management LLC acquired a new position 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 Trading Down 28.1 %

Shares of SoundHound AI stock opened at $10.97 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The stock’s 50 day simple moving average is $16.62 and its 200-day simple moving average is $9.50. The stock has a market cap of $4.31 billion, a P/E ratio of -30.47 and a beta of 2.56. SoundHound AI, Inc. has a 1-year low of $3.11 and a 1-year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.02 million. During the same period in the prior year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 88.7% on a year-over-year basis. Analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Lawrence Marcus sold 30,000 shares of SoundHound AI stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total transaction of $214,500.00. Following the sale, the director now owns 178,117 shares of the company’s stock, valued at approximately $1,273,536.55. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Timothy Stonehocker sold 34,407 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 796,581 shares in the company, valued at $16,170,594.30. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. 12.28% of the stock is currently owned by insiders.

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.