Creative Planning Grows Stock Holdings in SoundHound AI, Inc. $SOUN

Creative Planning grew its stake in SoundHound AI, Inc. (NASDAQ:SOUN) by 11.4% in the second quarter, Holdings Channel.com reports. The firm owned 90,218 shares of the company’s stock after acquiring an additional 9,237 shares during the quarter. Creative Planning’s holdings in SoundHound AI were worth $968,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new position in SoundHound AI during the first quarter worth $32,000. Huntington National Bank boosted its position in shares of SoundHound AI by 48.8% during the 2nd quarter. Huntington National Bank now owns 3,050 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares during the last quarter. Kozak & Associates Inc. grew its holdings in shares of SoundHound AI by 6,249.0% in the second quarter. Kozak & Associates Inc. now owns 3,238 shares of the company’s stock valued at $35,000 after purchasing an additional 3,187 shares during the period. Quarry LP increased its position in SoundHound AI by 1,552.7% during the first quarter. Quarry LP now owns 5,272 shares of the company’s stock worth $43,000 after purchasing an additional 4,953 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in SoundHound AI by 52.9% during the second quarter. PNC Financial Services Group Inc. now owns 6,171 shares of the company’s stock worth $66,000 after purchasing an additional 2,136 shares during the period. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Insider Buying and Selling at SoundHound AI

In related news, CEO Keyvan Mohajer sold 118,654 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction of $2,373,080.00. Following the sale, the chief executive officer directly owned 2,342,613 shares of the company’s stock, valued at $46,852,260. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nitesh Sharan sold 60,376 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $21.21, for a total transaction of $1,280,574.96. Following the sale, the chief financial officer owned 1,765,928 shares in the company, valued at approximately $37,455,332.88. This trade represents a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 787,260 shares of company stock valued at $13,973,056. Corporate insiders own 9.17% of the company’s stock.

SoundHound AI Stock Up 2.2%

NASDAQ:SOUN opened at $12.08 on Monday. SoundHound AI, Inc. has a 52 week low of $6.52 and a 52 week high of $24.98. The stock’s fifty day moving average is $16.00 and its two-hundred day moving average is $13.27. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of -14.37 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $42.05 million for the quarter, compared to the consensus estimate of $40.48 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company’s quarterly revenue was up 67.6% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SOUN. Northland Securities raised shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target for the company in a research note on Friday, August 8th. HC Wainwright upped their price objective on SoundHound AI from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Northland Capmk raised SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. LADENBURG THALM/SH SH upgraded SoundHound AI from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $16.00 in a research report on Monday, August 11th. Finally, Oppenheimer started coverage on SoundHound AI in a report on Thursday, September 11th. They set a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.42.

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.