Apexium Financial LP Has $394,000 Holdings in SoundHound AI, Inc. $SOUN

Apexium Financial LP lifted its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 2.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,698 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Apexium Financial LP’s holdings in SoundHound AI were worth $394,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SOUN. Vanguard Group Inc. grew its stake in shares of SoundHound AI by 9.5% in the first quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock valued at $284,687,000 after acquiring an additional 3,028,281 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SoundHound AI by 84.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,973,728 shares of the company’s stock worth $40,390,000 after buying an additional 2,274,105 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in SoundHound AI by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company’s stock worth $21,434,000 after buying an additional 1,085,473 shares in the last quarter. Nuveen LLC acquired a new stake in SoundHound AI during the first quarter worth about $7,406,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in SoundHound AI during the first quarter worth about $6,755,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Stock Performance

SoundHound AI stock opened at $17.85 on Friday. SoundHound AI, Inc. has a 52-week low of $4.56 and a 52-week high of $24.98. The firm has a 50 day moving average price of $14.03 and a two-hundred day moving average price of $11.30. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of -28.33 and a beta of 2.60.

SoundHound AI (NASDAQ:SOUN) last released its quarterly 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). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The firm had revenue of $42.68 million for the quarter, compared to the consensus estimate of $32.88 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The firm’s revenue for the quarter was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SOUN. Oppenheimer began coverage on shares of SoundHound AI in a research note on Thursday, September 11th. They set a “market perform” rating on the stock. Northland Securities upgraded shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price objective on the stock in a research note on Friday, August 8th. DA Davidson increased their price objective on shares of SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of SoundHound AI in a research note on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.36.

Insider Activity at SoundHound AI

In related news, CTO Timothy Stonehocker sold 2,247 shares of SoundHound AI stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $17.90, for a total value of $40,221.30. Following the completion of the sale, the chief technology officer owned 677,049 shares of the company’s stock, valued at approximately $12,119,177.10. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Nitesh Sharan sold 126,596 shares of SoundHound AI stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $16.58, for a total transaction of $2,098,961.68. Following the completion of the sale, the chief financial officer directly owned 1,796,304 shares of the company’s stock, valued at approximately $29,782,720.32. The trade was a 6.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 495,196 shares of company stock worth $8,068,135. Corporate insiders own 9.17% of the company’s stock.

SoundHound AI 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.