1 week Ago By Defense World Staff
Prudential Financial Inc. lifted its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN – Free Report) by 8.
9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,130 shares of the company’s stock after purchasing an additional 1,720 shares during the period. Prudential Financial Inc.
’s holdings in SoundHound AI were worth $419,000 as of its most recent SEC filing. A number of other institutional investors also recently made changes to their positions in SOUN. Blue Trust Inc.
boosted its position in SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc.
now owns 1,250 shares of the company’s stock worth $25,000 after acquiring an additional 830 shares during the last quarter. Sound Income Strategies LLC lifted its position in SoundHound AI by 2,542.0% during the fourth quarter.
Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after buying an additional 1,271 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in SoundHound AI during the 4th quarter worth $40,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of SoundHound AI in the fourth quarter valued at about $40,000.
Finally, Golden State Wealth Management LLC purchased a new stake in shares of SoundHound AI during the fourth quarter valued at approximately $42,000. 19.28% of the stock is owned by institutional investors and hedge funds.
SoundHound AI Trading Up 23.0 %Shares of NASDAQ:SOUN opened at $8.83 on Thursday.
The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.
13. SoundHound AI, Inc. has a 12-month low of $3.
50 and a 12-month high of $24.98. The firm has a fifty day moving average of $10.
41 and a two-hundred day moving average of $10.75. The firm has a market capitalization of $3.
52 billion, a P/E ratio of -24.53 and a beta of 2.73.
SoundHound AI (NASDAQ:SOUN – Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.
11) by ($0.58). The business had revenue of $34.
54 million for the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative net margin of 163.
58% and a negative return on equity of 55.58%. On average, equities analysts expect that SoundHound AI, Inc.
will post -0.38 EPS for the current fiscal year. Insider ActivityIn other news, Director Diana Sroka sold 3,402 shares of SoundHound AI stock in a transaction that occurred on Monday, March 24th.
The stock was sold at an average price of $10.08, for a total transaction of $34,292.16.
Following the sale, the director now owns 138,850 shares of the company’s stock, valued at approximately $1,399,608. This trade represents a 2.39 % decrease in their position.
The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Ming Hom sold 51,196 shares of SoundHound AI stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.
25, for a total transaction of $524,759.00. Following the sale, the insider now owns 638,456 shares in the company, valued at $6,544,174.
This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here.
Insiders have sold a total of 500,565 shares of company stock valued at $4,999,726 over the last 90 days. 12.28% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh InSOUN has been the topic of a number of recent analyst reports. Wedbush upped their target price on shares of SoundHound AI from $10.00 to $22.
00 and gave the company an “outperform” rating in a research note on Monday, December 16th. DA Davidson raised their target price on SoundHound AI from $9.50 to $13.
00 and gave the company a “buy” rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd.
Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a report on Monday, February 24th. Finally, Northland Securities boosted their target price on SoundHound AI from $6.00 to $8.
00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, SoundHound AI has a consensus rating of “Hold” and a consensus target price of $12.
86.View Our Latest Stock Report on SOUNSoundHound AI Profile (Free Report)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.
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