SoundHound AI, Inc. $SOUN Shares Purchased by R Squared Ltd

R Squared Ltd raised its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 289.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,483 shares of the company’s stock after acquiring an additional 39,743 shares during the period. R Squared Ltd’s holdings in SoundHound AI were worth $574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SOUN. Vanguard Group Inc. raised its stake in shares of SoundHound AI by 9.5% during the first quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock valued at $284,687,000 after purchasing an additional 3,028,281 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SoundHound AI by 84.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,973,728 shares of the company’s stock valued at $40,390,000 after buying an additional 2,274,105 shares during the period. Northern Trust Corp raised its position in shares of SoundHound AI by 2.5% during the 1st quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock worth $24,190,000 after buying an additional 72,766 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SoundHound AI by 4.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,847,261 shares of the company’s stock worth $23,120,000 after buying an additional 121,568 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of SoundHound AI by 69.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company’s stock worth $21,434,000 after acquiring an additional 1,085,473 shares during the period. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Price Performance

Shares of SOUN opened at $18.24 on Friday. The company has a 50-day moving average of $15.86 and a two-hundred day moving average of $12.26. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of -28.95 and a beta of 2.60. SoundHound AI, Inc. has a one year low of $4.97 and a one year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.13). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The firm had revenue of $42.68 million during the quarter, compared to analysts’ expectations of $32.88 million. During the same quarter last year, the company posted ($0.11) EPS. The firm’s revenue was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. Analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of SoundHound AI in a research note on Tuesday, October 14th. DA Davidson lifted their price target on SoundHound AI from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Wedbush reissued an “outperform” rating and issued a $16.00 price objective on shares of SoundHound AI in a research note on Thursday, September 11th. Wall Street Zen cut SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Northland Securities raised SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 target price on the stock in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.50.

Insider Buying and Selling

In related news, CTO Timothy Stonehocker sold 70,524 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total value of $1,410,480.00. Following the completion of the sale, the chief technology officer directly owned 606,525 shares of the company’s stock, valued at approximately $12,130,500. This represents a 10.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keyvan Mohajer sold 118,654 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total value of $2,373,080.00. Following the sale, the chief executive officer owned 2,342,613 shares of the company’s stock, valued at $46,852,260. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 785,917 shares of company stock valued at $13,955,610. 9.17% of the stock is currently owned by company insiders.

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.