Swiss National Bank Purchases 91,500 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Swiss National Bank boosted its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 641,200 shares of the company’s stock after purchasing an additional 91,500 shares during the quarter. Swiss National Bank owned about 0.16% of SoundHound AI worth $12,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avantax Advisory Services Inc. increased its stake in shares of SoundHound AI by 116.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 67,969 shares of the company’s stock valued at $1,348,000 after buying an additional 36,594 shares during the period. Farther Finance Advisors LLC grew its holdings in SoundHound AI by 68.3% during the 4th quarter. Farther Finance Advisors LLC now owns 15,088 shares of the company’s stock worth $299,000 after acquiring an additional 6,122 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in SoundHound AI by 18.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 34,411 shares of the company’s stock valued at $683,000 after purchasing an additional 5,278 shares during the period. Moors & Cabot Inc. raised its holdings in shares of SoundHound AI by 14.0% in the 4th quarter. Moors & Cabot Inc. now owns 14,572 shares of the company’s stock valued at $289,000 after purchasing an additional 1,791 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of SoundHound AI by 56.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,572 shares of the company’s stock worth $1,122,000 after purchasing an additional 20,434 shares during the period. 19.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SOUN shares. DA Davidson boosted their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Northland Securities upped their price objective 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. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research note on Monday, March 3rd. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.86.

Insider Activity at SoundHound AI

In other SoundHound AI news, Director Lawrence Marcus sold 20,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the sale, the director now owns 108,117 shares in the company, valued at approximately $2,213,154.99. The trade was a 15.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Ming Hom sold 36,771 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $746,451.30. Following the completion of the transaction, the insider now owns 718,040 shares of the company’s stock, valued at approximately $14,576,212. The trade was a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 524,676 shares of company stock valued at $10,638,694 in the last ninety days. Company insiders own 12.28% of the company’s stock.

SoundHound AI Price Performance

Shares of NASDAQ SOUN opened at $9.85 on Thursday. SoundHound AI, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $24.98. The company has a market cap of $3.87 billion, a PE ratio of -27.36 and a beta of 2.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The business has a 50-day simple moving average of $12.38 and a two-hundred day simple moving average of $10.33.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The company had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

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.