Belpointe Asset Management LLC Has $123,000 Holdings in SoundHound AI, Inc. $SOUN

Belpointe Asset Management LLC increased its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 9.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,430 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Belpointe Asset Management LLC’s holdings in SoundHound AI were worth $123,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in SoundHound AI by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock valued at $284,687,000 after buying an additional 3,028,281 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SoundHound AI by 84.2% in 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 increased its stake in SoundHound AI by 2.5% in the 1st quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock valued at $24,190,000 after buying an additional 72,766 shares during the period. Charles Schwab Investment Management Inc. increased its stake in SoundHound AI by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,847,261 shares of the company’s stock valued at $23,120,000 after buying an additional 121,568 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in SoundHound AI by 69.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company’s stock valued at $21,434,000 after buying an additional 1,085,473 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Trading Down 6.6%

NASDAQ SOUN opened at $17.36 on Friday. The company has a fifty day simple moving average of $14.80 and a 200 day simple moving average of $11.59. The company has a market cap of $7.08 billion, a P/E ratio of -27.56 and a beta of 2.60. SoundHound AI, Inc. has a 1 year low of $4.74 and a 1 year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $32.88 million. SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.SoundHound AI’s quarterly revenue was up 216.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. Equities research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Transactions at SoundHound AI

In other SoundHound AI news, CFO Nitesh Sharan sold 126,596 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $16.58, for a total value 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 $29,782,720.32. This represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Timothy Stonehocker sold 70,524 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction 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 trade represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 725,541 shares of company stock worth $12,675,035. 9.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Northland Capmk upgraded shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Northland Securities raised shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 target price for the company in a research report on Friday, August 8th. LADENBURG THALM/SH SH raised shares of SoundHound AI from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $9.00 to $16.00 in a research report on Monday, August 11th. DA Davidson boosted their target price on shares of SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Piper Sandler reissued a “neutral” rating and issued a $12.00 target price on shares of SoundHound AI in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SoundHound AI presently has an average rating of “Moderate Buy” and an average price target of $14.36.

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.