Allworth Financial LP Purchases 3,909 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Allworth Financial LP lifted its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 65.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,909 shares of the company’s stock after purchasing an additional 3,909 shares during the period. Allworth Financial LP’s holdings in SoundHound AI were worth $197,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SOUN. Creative Planning purchased a new stake in shares of SoundHound AI during the 3rd quarter worth approximately $91,000. Sequoia Financial Advisors LLC increased its stake in shares of SoundHound AI by 40.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 29,133 shares of the company’s stock worth $136,000 after purchasing an additional 8,450 shares during the last quarter. Signaturefd LLC increased its stake in shares of SoundHound AI by 19.5% during the 3rd quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock worth $57,000 after purchasing an additional 2,000 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of SoundHound AI by 914.6% during the 3rd quarter. International Assets Investment Management LLC now owns 80,152 shares of the company’s stock worth $374,000 after purchasing an additional 72,252 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of SoundHound AI by 2,198.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 88,111 shares of the company’s stock worth $411,000 after purchasing an additional 84,278 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

SoundHound AI Stock Down 5.5 %

SOUN opened at $10.31 on Friday. The company has a fifty day moving average price of $16.24 and a 200-day moving average price of $9.75. The firm has a market capitalization of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a one year low of $3.50 and a one year high of $24.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SOUN shares. Barclays reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th. Wedbush lifted their price objective 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. Finally, Northland Securities lifted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.36.

Insider Activity

In other news, VP Majid Emami sold 37,459 shares of SoundHound AI stock in a transaction on Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $760,417.70. Following the completion of the sale, the vice president now directly owns 698,226 shares of the company’s stock, valued at approximately $14,173,987.80. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Keyvan Mohajer sold 156,288 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total transaction of $3,157,017.60. Following the completion of the sale, the chief executive officer now directly owns 2,021,666 shares of the company’s stock, valued at $40,837,653.20. This represents a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,752,918 shares of company stock worth $45,176,843 in the last three months. Corporate insiders own 12.28% of the company’s stock.

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.