Tucker Asset Management LLC Boosts Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

Tucker Asset Management LLC raised its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 221.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,160 shares of the company’s stock after purchasing an additional 6,309 shares during the period. Tucker Asset Management LLC’s holdings in SoundHound AI were worth $182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SOUN. Victory Capital Management Inc. lifted its position in shares of SoundHound AI by 230.9% during the third quarter. Victory Capital Management Inc. now owns 120,812 shares of the company’s stock worth $563,000 after acquiring an additional 84,301 shares in the last quarter. Intech Investment Management LLC purchased a new position in SoundHound AI in the 3rd quarter worth approximately $305,000. Charles Schwab Investment Management Inc. raised its position in shares of SoundHound AI by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock valued at $12,033,000 after buying an additional 189,109 shares in the last quarter. Independent Advisor Alliance increased its stake in SoundHound AI by 85.3% in the third quarter. Independent Advisor Alliance now owns 36,663 shares of the company’s stock valued at $171,000 after acquiring an additional 16,880 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in SoundHound AI by 43.1% during the third quarter. The Manufacturers Life Insurance Company now owns 151,826 shares of the company’s stock worth $708,000 after purchasing an additional 45,750 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

Insider Transactions at SoundHound AI

In other news, Director Diana Sroka sold 3,402 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $34,292.16. Following the completion of the transaction, the director now owns 138,850 shares of the company’s stock, valued at approximately $1,399,608. This represents a 2.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Ming Hom sold 28,388 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,041.20. Following the completion of the transaction, the insider now owns 689,652 shares of the company’s stock, valued at approximately $6,827,554.80. The trade was a 3.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,565 shares of company stock valued at $4,999,726. Company insiders own 12.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. DA Davidson boosted their target price on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research note on Monday, March 3rd. Wedbush lifted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Finally, Northland Securities increased their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, SoundHound AI presently has an average rating of “Hold” and a consensus target price of $12.86.

SoundHound AI Trading Down 4.3 %

NASDAQ SOUN opened at $8.50 on Friday. The stock has a market cap of $3.39 billion, a P/E ratio of -23.61 and a beta of 2.62. SoundHound AI, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $24.98. The stock has a 50 day simple moving average of $11.79 and a two-hundred day simple moving average of $10.53. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly 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). The business had revenue of $34.54 million during the quarter, compared to analysts’ expectations of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. On average, analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current 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.