Cetera Investment Advisers Purchases 25,423 Shares of SoundHound AI, Inc. $SOUN

Cetera Investment Advisers raised its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 18.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,937 shares of the company’s stock after acquiring an additional 25,423 shares during the quarter. Cetera Investment Advisers’ holdings in SoundHound AI were worth $1,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SOUN. LPL Financial LLC raised its holdings in shares of SoundHound AI by 7.5% in the 1st quarter. LPL Financial LLC now owns 1,346,805 shares of the company’s stock valued at $10,936,000 after purchasing an additional 93,833 shares during the period. R Squared Ltd acquired a new position in SoundHound AI during the first quarter worth approximately $112,000. Thoroughbred Financial Services LLC raised its stake in SoundHound AI by 38.4% in the first quarter. Thoroughbred Financial Services LLC now owns 113,475 shares of the company’s stock valued at $921,000 after buying an additional 31,500 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of SoundHound AI by 140.9% in the first quarter. Atria Wealth Solutions Inc. now owns 25,353 shares of the company’s stock valued at $206,000 after buying an additional 14,829 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of SoundHound AI by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock worth $284,687,000 after acquiring an additional 3,028,281 shares during the period. Institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. DA Davidson restated a “buy” rating and issued a $17.00 price target on shares of SoundHound AI in a research note on Tuesday, November 18th. Piper Sandler upped their price objective on shares of SoundHound AI from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 7th. LADENBURG THALM/SH SH raised shares of SoundHound AI from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $16.00 in a research report on Monday, August 11th. HC Wainwright lifted their target price on shares of SoundHound AI from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Northland Capmk raised shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.42.

SoundHound AI Trading Up 2.2%

Shares of SOUN stock opened at $12.08 on Monday. The stock has a market cap of $5.07 billion, a P/E ratio of -14.37 and a beta of 2.63. SoundHound AI, Inc. has a 1 year low of $6.52 and a 1 year high of $24.98. The stock has a 50 day simple moving average of $16.00 and a 200 day simple moving average of $13.27.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The business had revenue of $42.05 million during the quarter, compared to the consensus estimate of $40.48 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. SoundHound AI’s revenue for the quarter was up 67.6% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. Analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Insider Transactions at SoundHound AI

In other news, CTO Timothy Stonehocker sold 70,524 shares of SoundHound AI stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total value of $1,410,480.00. Following the transaction, the chief technology officer owned 606,525 shares in the company, valued at approximately $12,130,500. This trade represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nitesh Sharan sold 60,376 shares of SoundHound AI stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $21.21, for a total value of $1,280,574.96. Following the completion of the transaction, the chief financial officer owned 1,765,928 shares in the company, valued at approximately $37,455,332.88. This represents a 3.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 787,260 shares of company stock worth $13,973,056. 9.17% of the stock is owned by insiders.

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.