Sheaff Brock Investment Advisors LLC Acquires Shares of 14,182 SoundHound AI, Inc. (NASDAQ:SOUN)

Sheaff Brock Investment Advisors LLC acquired a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,182 shares of the company’s stock, valued at approximately $84,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of SoundHound AI by 16.1% during the first quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock valued at $94,655,000 after buying an additional 2,226,471 shares during the last quarter. Intrinsic Edge Capital Management LLC grew its position in shares of SoundHound AI by 47.7% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 4,848,211 shares of the company’s stock valued at $10,278,000 after purchasing an additional 1,566,238 shares in the last quarter. PFG Investments LLC purchased a new position in SoundHound AI during the first quarter worth about $1,335,000. Commonwealth Equity Services LLC grew its position in SoundHound AI by 239.7% during the first quarter. Commonwealth Equity Services LLC now owns 296,428 shares of the company’s stock worth $1,746,000 after buying an additional 209,154 shares in the last quarter. Finally, Anson Funds Management LP purchased a new position in SoundHound AI during the first quarter worth about $1,223,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SOUN. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Monday, May 13th. Cantor Fitzgerald upgraded SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price for the company in a research report on Thursday, April 11th. Finally, Wedbush restated an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, SoundHound AI presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.88.

Insider Buying and Selling

In other SoundHound AI news, CEO Keyvan Mohajer sold 116,504 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $3.95, for a total transaction of $460,190.80. Following the sale, the chief executive officer now directly owns 953,333 shares of the company’s stock, valued at $3,765,665.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO Timothy Stonehocker sold 208,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $5.75, for a total transaction of $1,196,000.00. Following the completion of the transaction, the chief technology officer now owns 659,531 shares in the company, valued at $3,792,303.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Keyvan Mohajer sold 116,504 shares of SoundHound AI stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $3.95, for a total value of $460,190.80. Following the completion of the transaction, the chief executive officer now owns 953,333 shares of the company’s stock, valued at approximately $3,765,665.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 625,728 shares of company stock valued at $3,011,476. 21.30% of the stock is owned by company insiders.

SoundHound AI Trading Up 6.0 %

SOUN traded up $0.29 during trading on Friday, hitting $5.12. 20,615,410 shares of the company’s stock traded hands, compared to its average volume of 33,023,244. The company’s 50 day simple moving average is $4.68 and its two-hundred day simple moving average is $4.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 8.84 and a current ratio of 8.84. SoundHound AI, Inc. has a 12-month low of $1.49 and a 12-month high of $10.25.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Thursday, May 9th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The business had revenue of $11.59 million for the quarter, compared to the consensus estimate of $10.10 million. During the same period last year, the business posted ($0.12) EPS. The company’s revenue was up 72.9% compared to the same quarter last year. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.33 EPS for the current fiscal year.

SoundHound AI Company 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.