SoundHound AI, Inc. (NASDAQ:SOUN) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lowered its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 860,527 shares of the company’s stock after selling 30,000 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in SoundHound AI were worth $17,073,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Cibc World Markets Corp purchased a new position in SoundHound AI during the fourth quarter worth about $573,000. Twin Tree Management LP raised its stake in shares of SoundHound AI by 837.6% during the 4th quarter. Twin Tree Management LP now owns 28,926 shares of the company’s stock worth $574,000 after buying an additional 25,841 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of SoundHound AI by 13.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 8,317 shares of the company’s stock valued at $165,000 after buying an additional 1,000 shares during the period. Harbour Investments Inc. boosted its stake in shares of SoundHound AI by 19.6% in the fourth quarter. Harbour Investments Inc. now owns 74,762 shares of the company’s stock valued at $1,483,000 after buying an additional 12,228 shares in the last quarter. Finally, HBK Sorce Advisory LLC grew its holdings in SoundHound AI by 34.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 14,575 shares of the company’s stock worth $289,000 after acquiring an additional 3,746 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SOUN shares. Wedbush raised their target price on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a report on Monday, February 24th. DA Davidson increased their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. HC Wainwright reissued a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd. Finally, Northland Securities upped their price target on SoundHound AI from $6.00 to $8.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.86.

SoundHound AI Stock Down 2.5 %

Shares of NASDAQ SOUN opened at $10.08 on Tuesday. The firm’s 50-day moving average is $12.65 and its two-hundred day moving average is $10.30. The company has a market capitalization of $3.96 billion, a PE ratio of -28.00 and a beta of 2.62. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month high of $24.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). The company had revenue of $34.54 million during the quarter, compared to analysts’ expectations of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. Equities analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at SoundHound AI

In other SoundHound AI news, COO Michael Zagorsek sold 277,813 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.25, for a total transaction of $5,903,526.25. Following the sale, the chief operating officer now directly owns 1,473,322 shares of the company’s stock, valued at $31,308,092.50. This trade represents a 15.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Majid Emami sold 37,459 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $760,417.70. Following the completion of the transaction, the vice president now directly owns 698,226 shares of the company’s stock, valued at approximately $14,173,987.80. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 802,489 shares of company stock valued at $16,542,220 over the last quarter. Insiders own 12.28% 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.