SG Americas Securities LLC Has $2.67 Million Position in SoundHound AI, Inc. $SOUN

SG Americas Securities LLC lifted its stake in SoundHound AI, Inc. (NASDAQ:SOUN) by 221.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,143 shares of the company’s stock after buying an additional 171,672 shares during the period. SG Americas Securities LLC owned about 0.06% of SoundHound AI worth $2,673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SOUN. Janney Montgomery Scott LLC lifted its position in shares of SoundHound AI by 4.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 23,073 shares of the company’s stock worth $248,000 after acquiring an additional 880 shares during the period. Apexium Financial LP raised its stake in shares of SoundHound AI by 2.8% in the 2nd quarter. Apexium Financial LP now owns 36,698 shares of the company’s stock valued at $394,000 after buying an additional 1,000 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in SoundHound AI by 9.6% during the second quarter. Belpointe Asset Management LLC now owns 11,430 shares of the company’s stock worth $123,000 after purchasing an additional 1,000 shares during the period. Huntington National Bank lifted its position in shares of SoundHound AI by 48.8% during the 2nd quarter. Huntington National Bank now owns 3,050 shares of the company’s stock worth $33,000 after buying an additional 1,000 shares during the period. Finally, Summit Investment Advisors Inc. grew its position in SoundHound AI by 3.8% in the first quarter. Summit Investment Advisors Inc. now owns 32,759 shares of the company’s stock valued at $266,000 after acquiring an additional 1,198 shares during the period. 19.28% of the stock is currently owned by institutional investors.

Insider Transactions at SoundHound AI

In related news, CEO Keyvan Mohajer sold 138,523 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $16.00, for a total transaction of $2,216,368.00. Following the sale, the chief executive officer directly owned 2,461,267 shares in the company, valued at $39,380,272. This trade represents a 5.33% 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, CFO Nitesh Sharan sold 126,596 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.58, for a total transaction of $2,098,961.68. Following the completion of the transaction, the chief financial officer directly owned 1,796,304 shares of the company’s stock, valued at approximately $29,782,720.32. The trade was a 6.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 787,260 shares of company stock valued at $13,973,056. 9.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SOUN has been the subject of a number of research analyst reports. DA Davidson reiterated a “buy” rating and issued a $17.00 target price on shares of SoundHound AI in a research note on Tuesday. Oppenheimer started coverage on SoundHound AI in a report on Thursday, September 11th. They set a “market perform” rating on the stock. Wall Street Zen lowered SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Piper Sandler lifted their price objective on SoundHound AI from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Finally, HC Wainwright raised their target price on shares of SoundHound AI from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SoundHound AI currently has an average rating of “Moderate Buy” and an average target price of $17.42.

SoundHound AI Trading Up 0.9%

SOUN stock opened at $11.53 on Wednesday. SoundHound AI, Inc. has a 1-year low of $6.04 and a 1-year high of $24.98. The firm has a market cap of $4.70 billion, a PE ratio of -13.73 and a beta of 2.60. The business’s 50-day moving average price is $16.50 and its two-hundred day moving average price is $13.17.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The company had revenue of $42.05 million for the quarter, compared to analyst estimates of $40.48 million. During the same quarter last year, the firm posted ($0.04) earnings per share. SoundHound AI’s revenue was up 67.6% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. On average, analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

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.