Keynote Financial Services LLC Purchases 6,700 Shares of SoundHound AI, Inc. $SOUN

Keynote Financial Services LLC boosted its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 50.6% during the second quarter, Holdings Channel reports. The institutional investor owned 19,931 shares of the company’s stock after purchasing an additional 6,700 shares during the quarter. Keynote Financial Services LLC’s holdings in SoundHound AI were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of SoundHound AI by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock worth $284,687,000 after acquiring an additional 3,028,281 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SoundHound AI by 84.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,973,728 shares of the company’s stock worth $40,390,000 after purchasing an additional 2,274,105 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in SoundHound AI by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company’s stock worth $21,434,000 after purchasing an additional 1,085,473 shares during the last quarter. Nuveen LLC bought a new position in SoundHound AI in the first quarter valued at $7,406,000. Finally, Bank of New York Mellon Corp increased its stake in SoundHound AI by 91.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,762,827 shares of the company’s stock valued at $18,915,000 after buying an additional 842,973 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Price Performance

SOUN stock opened at $14.41 on Tuesday. SoundHound AI, Inc. has a one year low of $5.97 and a one year high of $24.98. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of -17.15 and a beta of 2.60. The company has a fifty day moving average price of $16.69 and a two-hundred day moving average price of $13.05.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The company had revenue of $42.05 million during the quarter, compared to analysts’ expectations of $40.48 million. SoundHound AI had a negative net margin of 211.16% and a negative return on equity of 100.07%. During the same quarter last year, the company posted ($0.04) EPS. SoundHound AI’s quarterly revenue was up 67.6% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. Research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In other SoundHound AI news, COO Michael Zagorsek sold 69,837 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $16.00, for a total transaction of $1,117,392.00. Following the completion of the sale, the chief operating officer directly owned 1,860,790 shares in the company, valued at $29,772,640. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Timothy Stonehocker sold 70,524 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total value of $1,410,480.00. Following the completion of the transaction, the chief technology officer directly owned 606,525 shares in the company, valued at $12,130,500. The trade was a 10.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 785,917 shares of company stock valued at $13,955,610. Company insiders own 9.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SOUN. Piper Sandler increased their price objective on shares of SoundHound AI from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of SoundHound AI in a report on Tuesday, October 14th. Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of SoundHound AI in a research note on Thursday, September 11th. LADENBURG THALM/SH SH raised SoundHound AI from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $9.00 to $16.00 in a research report on Monday, August 11th. Finally, HC Wainwright increased their price objective on SoundHound AI from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SoundHound AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.93.

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.