Sheaff Brock Investment Advisors LLC Buys 20,185 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Sheaff Brock Investment Advisors LLC lifted its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 149.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 33,652 shares of the company’s stock after acquiring an additional 20,185 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in SoundHound AI were worth $668,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SOUN. Blue Trust Inc. lifted its holdings in shares of SoundHound AI by 197.6% during the 4th 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 holdings in shares of SoundHound AI by 2,542.0% during the 4th 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. lifted its holdings 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 acquiring an additional 3,818 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of SoundHound AI during the 4th quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in SoundHound AI in the fourth quarter worth $40,000. 19.28% of the stock is owned by institutional investors.

Insider Activity at SoundHound AI

In related news, Director Lawrence Marcus sold 30,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $7.15, for a total transaction of $214,500.00. Following the sale, the director now owns 178,117 shares of the company’s stock, valued at $1,273,536.55. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric R. Ball sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the director now directly owns 451,756 shares in the company, valued at $5,421,072. The trade was a 9.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock worth $45,391,343 over the last 90 days. 12.28% of the stock is owned by company insiders.

SoundHound AI Price Performance

Shares of NASDAQ SOUN opened at $10.97 on Monday. SoundHound AI, Inc. has a 1 year low of $3.11 and a 1 year high of $24.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The company’s 50-day moving average is $16.62 and its 200 day moving average is $9.56. The stock has a market capitalization of $4.31 billion, a P/E ratio of -30.47 and a beta of 2.56.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SOUN shares. Wedbush boosted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Barclays reissued a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, January 13th. Northland Securities boosted their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SoundHound AI has a consensus rating of “Moderate Buy” and a consensus price target of $12.36.

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.