Clarus Group Inc. Sells 5,000 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Clarus Group Inc. trimmed its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 26.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,000 shares of the company’s stock after selling 5,000 shares during the period. Clarus Group Inc.’s holdings in SoundHound AI were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SOUN. AQR Capital Management LLC raised its stake in shares of SoundHound AI by 40.2% during the 2nd quarter. AQR Capital Management LLC now owns 29,417 shares of the company’s stock valued at $116,000 after purchasing an additional 8,440 shares during the period. The Manufacturers Life Insurance Company grew its holdings in SoundHound AI by 101.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 106,076 shares of the company’s stock valued at $419,000 after buying an additional 53,490 shares in the last quarter. Truist Financial Corp increased its position in shares of SoundHound AI by 432.9% during the second quarter. Truist Financial Corp now owns 96,729 shares of the company’s stock valued at $382,000 after buying an additional 125,785 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of SoundHound AI in the second quarter worth about $104,000. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of SoundHound AI in the third quarter valued at approximately $66,000. Institutional investors own 19.28% of the company’s stock.

Insider Transactions at SoundHound AI

In related news, VP Majid Emami sold 94,067 shares of SoundHound AI stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $9.05, for a total value of $851,306.35. Following the transaction, the vice president now directly owns 735,685 shares of the company’s stock, valued at $6,657,949.25. The trade was a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence Marcus sold 30,000 shares of the stock in a transaction on 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 directly owns 178,117 shares of the company’s stock, valued at $1,273,536.55. The trade was a 14.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,782,918 shares of company stock worth $45,391,343. Company insiders own 12.28% of the company’s stock.

SoundHound AI Stock Down 1.7 %

Shares of SOUN opened at $15.33 on Tuesday. SoundHound AI, Inc. has a 1 year low of $2.08 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 stock has a 50 day simple moving average of $16.49 and a two-hundred day simple moving average of $9.32. The firm has a market cap of $6.03 billion, a P/E ratio of -42.58 and a beta of 2.56.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $23.02 million. During the same quarter last year, the company earned ($0.09) EPS. The firm’s revenue was up 88.7% compared to the same quarter last year. On average, analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOUN has been the topic of a number of analyst reports. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Barclays reaffirmed a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Northland Securities upped their target price on 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, HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.36.

About SoundHound AI

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.