SJS Investment Consulting Inc. Invests $129,000 in SoundHound AI, Inc. (NASDAQ:SOUN)

SJS Investment Consulting Inc. purchased a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,510 shares of the company’s stock, valued at approximately $129,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC lifted its holdings in SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 1,271 shares during the last quarter. NBC Securities Inc. raised its position in shares of SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after purchasing an additional 3,818 shares during the period. Amalgamated Bank lifted its holdings in shares of SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after purchasing an additional 5,099 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in SoundHound AI during the 4th quarter valued at approximately $40,000. Finally, Farther Finance Advisors LLC grew its stake in SoundHound AI by 298.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after buying an additional 6,716 shares during the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SOUN shares. Wedbush boosted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Northland Securities boosted their target price 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. Barclays restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a report on Monday, January 13th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, SoundHound AI currently has an average rating of “Moderate Buy” and an average price target of $12.36.

Insider Buying and Selling

In related news, COO Michael Zagorsek sold 277,813 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $21.25, for a total transaction of $5,903,526.25. Following the completion of the sale, the chief operating officer now directly owns 1,473,322 shares in the company, valued at approximately $31,308,092.50. This trade represents a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Keyvan Mohajer sold 156,288 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the completion of the transaction, the chief executive officer now directly owns 2,021,666 shares in the company, valued at $40,837,653.20. This represents a 7.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,782,918 shares of company stock valued at $45,391,343 over the last three months. Company insiders own 12.28% of the company’s stock.

SoundHound AI Price Performance

SoundHound AI stock opened at $15.84 on Friday. SoundHound AI, Inc. has a 12-month low of $1.62 and a 12-month high of $24.98. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $14.91 and a 200-day simple moving average of $8.52.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. During the same period last year, the company posted ($0.09) EPS. The firm’s quarterly revenue was up 88.7% on a year-over-year basis. Equities analysts anticipate 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.