10,165 Shares in SoundHound AI, Inc. $SOUN Purchased by Forefront Wealth Management Inc.

Forefront Wealth Management Inc. purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,165 shares of the company’s stock, valued at approximately $109,000.

Several other institutional investors also recently bought and sold shares of the business. Mackenzie Financial Corp raised its stake in SoundHound AI by 14.5% in the fourth quarter. Mackenzie Financial Corp now owns 20,831 shares of the company’s stock worth $413,000 after buying an additional 2,643 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of SoundHound AI by 171.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 69,831 shares of the company’s stock valued at $1,385,000 after acquiring an additional 44,059 shares during the period. California State Teachers Retirement System raised its position in shares of SoundHound AI by 13.6% in the 4th quarter. California State Teachers Retirement System now owns 303,598 shares of the company’s stock worth $6,023,000 after acquiring an additional 36,422 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of SoundHound AI during the 4th quarter worth $7,789,000. Finally, GAMMA Investing LLC boosted its position in SoundHound AI by 1,477.7% during the first quarter. GAMMA Investing LLC now owns 11,912 shares of the company’s stock valued at $97,000 after purchasing an additional 11,157 shares in the last quarter. 19.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen lowered shares of SoundHound AI from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. DA Davidson increased their target price on shares of SoundHound AI from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Northland Securities raised shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a report on Friday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $16.00 price target on shares of SoundHound AI in a research report on Thursday, September 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of SoundHound AI in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, SoundHound AI presently has an average rating of “Moderate Buy” and a consensus price target of $14.36.

Insider Transactions at SoundHound AI

In related news, CEO Keyvan Mohajer sold 138,523 shares of SoundHound AI stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $2,216,368.00. Following the completion of the sale, the chief executive officer owned 2,461,267 shares of the company’s stock, valued at $39,380,272. The trade was a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Ming Hom sold 42,119 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $673,904.00. Following the completion of the transaction, the insider owned 845,441 shares in the company, valued at approximately $13,527,056. This trade represents a 4.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 495,196 shares of company stock valued at $8,068,135. 9.17% of the stock is owned by company insiders.

SoundHound AI Trading Down 2.5%

NASDAQ SOUN opened at $15.94 on Monday. SoundHound AI, Inc. has a 12-month low of $4.45 and a 12-month high of $24.98. The company has a fifty day simple moving average of $13.54 and a two-hundred day simple moving average of $11.07. The stock has a market cap of $6.50 billion, a P/E ratio of -25.30 and a beta of 2.58.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.13). The firm had revenue of $42.68 million during the quarter, compared to analyst estimates of $32.88 million. SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. SoundHound AI’s revenue was up 216.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current 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.