Wealthcare Advisory Partners LLC Has $291,000 Stake in SoundHound AI, Inc. $SOUN

Wealthcare Advisory Partners LLC trimmed its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,146 shares of the company’s stock after selling 3,338 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in SoundHound AI were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of SoundHound AI by 4.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,073 shares of the company’s stock valued at $248,000 after buying an additional 880 shares during the last quarter. Apexium Financial LP lifted its holdings in shares of SoundHound AI by 2.8% during the 2nd quarter. Apexium Financial LP now owns 36,698 shares of the company’s stock valued at $394,000 after buying an additional 1,000 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of SoundHound AI by 11.6% during the 1st quarter. Allworth Financial LP now owns 11,062 shares of the company’s stock valued at $90,000 after buying an additional 1,153 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of SoundHound AI by 8.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 14,676 shares of the company’s stock valued at $119,000 after buying an additional 1,201 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of SoundHound AI by 13.7% during the 1st quarter. Amalgamated Bank now owns 11,162 shares of the company’s stock valued at $91,000 after buying an additional 1,343 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Price Performance

SoundHound AI stock opened at $17.36 on Friday. The stock has a fifty day moving average price of $14.80 and a two-hundred day moving average price of $11.57. SoundHound AI, Inc. has a 52-week low of $4.74 and a 52-week high of $24.98. The firm has a market capitalization of $7.08 billion, a P/E ratio of -27.56 and a beta of 2.60.

SoundHound AI (NASDAQ:SOUN) last released 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). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The company had revenue of $42.68 million for the quarter, compared to analyst estimates of $32.88 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The business’s revenue was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. On average, equities research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SOUN. Piper Sandler reiterated a “neutral” rating and set a $12.00 price target on shares of SoundHound AI in a report on Monday, July 14th. LADENBURG THALM/SH SH upgraded 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 report on Monday, August 11th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of SoundHound AI in a report on Wednesday, September 17th. Wall Street Zen lowered SoundHound AI from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Northland Capmk upgraded SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.36.

Insider Activity

In other SoundHound AI news, VP Majid Emami sold 42,119 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $673,904.00. Following the completion of the transaction, the vice president directly owned 685,538 shares in the company, valued at $10,968,608. This represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Nitesh Sharan sold 126,596 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.58, for a total value of $2,098,961.68. Following the transaction, the chief financial officer owned 1,796,304 shares of the company’s stock, valued at $29,782,720.32. This represents a 6.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 725,541 shares of company stock valued at $12,675,035. 9.17% of the stock is owned by company insiders.

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.