Tyler Stone Wealth Management Buys Shares of 31,164 SoundHound AI, Inc. (NASDAQ:SOUN)

Tyler Stone Wealth Management purchased a new position in SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 31,164 shares of the company’s stock, valued at approximately $618,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in SoundHound AI by 35.6% in the fourth quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company’s stock worth $635,508,000 after purchasing an additional 8,402,881 shares during the period. State Street Corp raised its stake in SoundHound AI by 0.6% during the 3rd quarter. State Street Corp now owns 7,197,414 shares of the company’s stock worth $33,540,000 after buying an additional 42,869 shares during the period. Geode Capital Management LLC lifted its holdings in SoundHound AI by 9.1% during the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock worth $33,529,000 after acquiring an additional 602,311 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in SoundHound AI by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,725,693 shares of the company’s stock valued at $54,078,000 after acquiring an additional 143,487 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of SoundHound AI by 19.1% in the fourth quarter. LPL Financial LLC now owns 1,252,972 shares of the company’s stock worth $24,859,000 after acquiring an additional 200,763 shares in the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider James Ming Hom sold 28,388 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,041.20. Following the transaction, the insider now directly owns 689,652 shares in the company, valued at $6,827,554.80. The trade was a 3.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Majid Emami sold 28,392 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,080.80. Following the completion of the sale, the vice president now owns 669,834 shares of the company’s stock, valued at $6,631,356.60. This trade represents a 4.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,565 shares of company stock worth $4,999,726. Insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SOUN. Northland Securities boosted their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. DA Davidson raised their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Wedbush upped their target price 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. Finally, HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, SoundHound AI has a consensus rating of “Hold” and an average target price of $12.86.

SoundHound AI Trading Down 8.0 %

SoundHound AI stock opened at $9.38 on Thursday. 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 firm has a 50-day moving average of $12.00 and a 200-day moving average of $10.52. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -26.06 and a beta of 2.62. SoundHound AI, Inc. has a one year low of $3.50 and a one year high of $24.98.

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

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.