Global Retirement Partners LLC Cuts Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Global Retirement Partners LLC trimmed its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,385 shares of the company’s stock after selling 6,427 shares during the quarter. Global Retirement Partners LLC’s holdings in SoundHound AI were worth $1,099,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SOUN. New York State Common Retirement Fund grew its stake in shares of SoundHound AI by 11.4% in the fourth quarter. New York State Common Retirement Fund now owns 90,962 shares of the company’s stock valued at $1,805,000 after buying an additional 9,300 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of SoundHound AI in the fourth quarter valued at about $187,000. Sanctuary Advisors LLC grew its stake in shares of SoundHound AI by 48.8% in the fourth quarter. Sanctuary Advisors LLC now owns 44,618 shares of the company’s stock valued at $885,000 after buying an additional 14,642 shares in the last quarter. Valmark Advisers Inc. acquired a new stake in shares of SoundHound AI in the fourth quarter valued at about $217,000. Finally, Sheaff Brock Investment Advisors LLC grew its stake in shares of SoundHound AI by 149.9% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 33,652 shares of the company’s stock valued at $668,000 after buying an additional 20,185 shares in the last quarter. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SOUN has been the subject of a number of recent research reports. Wedbush increased their target price on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research note on Monday, January 13th. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Northland Securities increased their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Finally, Barclays restated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.36.

Insider Activity

In other SoundHound AI news, CEO Keyvan Mohajer sold 465,394 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the sale, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at approximately $34,579,185.92. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric R. Ball sold 30,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.03, for a total transaction of $240,900.00. Following the sale, the director now directly owns 110,907 shares in the company, valued at $890,583.21. This trade represents a 21.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,752,918 shares of company stock worth $45,176,843. 12.28% of the stock is currently owned by insiders.

SoundHound AI Trading Down 5.5 %

Shares of NASDAQ SOUN opened at $10.31 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $16.24 and its two-hundred day moving average price is $9.71. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98. The stock has a market capitalization of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.56.

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.