Mitchell Capital Management Co. Takes Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Mitchell Capital Management Co. acquired a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 117,409 shares of the company’s stock, valued at approximately $2,329,000.

Several other large investors have also modified their holdings of SOUN. Blue Trust Inc. boosted its holdings in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after acquiring an additional 830 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 1,271 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI during the fourth quarter worth $40,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of SoundHound AI during the fourth quarter worth $40,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of SoundHound AI by 298.5% during the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after purchasing an additional 6,716 shares during the period. 19.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SoundHound AI

In other news, CEO Keyvan Mohajer sold 156,288 shares of SoundHound AI stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total transaction of $3,157,017.60. Following the completion of the transaction, the chief executive officer now owns 2,021,666 shares of the company’s stock, valued at $40,837,653.20. The trade was a 7.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eric R. Ball sold 50,000 shares of SoundHound AI stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the director now directly owns 451,756 shares of the company’s stock, valued at $5,421,072. This trade represents a 9.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,722,918 shares of company stock valued at $44,935,943 in the last 90 days. 12.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SOUN. Barclays reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Northland Securities increased 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. Wedbush increased their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, DA Davidson increased their price objective on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, SoundHound AI has an average rating of “Hold” and a consensus price target of $12.86.

SoundHound AI Price Performance

Shares of NASDAQ SOUN opened at $10.84 on Friday. The firm has a market capitalization of $4.26 billion, a P/E ratio of -30.10 and a beta of 2.56. SoundHound AI, Inc. has a one year low of $3.50 and a one year high of $24.98. The company’s fifty day moving average is $15.19 and its two-hundred day moving average is $9.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

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

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.