SoundHound AI, Inc. $SOUN Shares Sold by CreativeOne Wealth LLC

CreativeOne Wealth LLC cut its stake in SoundHound AI, Inc. (NASDAQ:SOUN) by 41.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,531 shares of the company’s stock after selling 12,460 shares during the period. CreativeOne Wealth LLC’s holdings in SoundHound AI were worth $142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SOUN. Vanguard Group Inc. lifted its stake in SoundHound AI by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock valued at $284,687,000 after acquiring an additional 3,028,281 shares during the period. Northern Trust Corp lifted its stake in SoundHound AI by 2.5% during the 1st quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock valued at $24,190,000 after acquiring an additional 72,766 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in SoundHound AI by 4.5% during 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 acquiring an additional 121,568 shares during the period. LPL Financial LLC lifted its stake in SoundHound AI by 7.5% during the 1st quarter. LPL Financial LLC now owns 1,346,805 shares of the company’s stock valued at $10,936,000 after acquiring an additional 93,833 shares during the period. Finally, Carnegie Investment Counsel lifted its stake in SoundHound AI by 8.9% during the 1st quarter. Carnegie Investment Counsel now owns 1,069,860 shares of the company’s stock valued at $8,131,000 after acquiring an additional 87,810 shares during the period. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Trading Down 5.1%

SOUN stock opened at $12.74 on Thursday. The company has a market cap of $5.19 billion, a price-to-earnings ratio of -20.22 and a beta of 2.58. The firm has a 50-day moving average of $12.21 and a two-hundred day moving average of $10.40. SoundHound AI, Inc. has a 12 month low of $4.32 and a 12 month high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The company had revenue of $42.68 million during the quarter, compared to analysts’ expectations of $32.88 million. During the same quarter last year, the company earned ($0.11) earnings per share. SoundHound AI’s revenue for the quarter was up 216.3% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

SOUN has been the subject of several recent research reports. Northland Capmk raised shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Wall Street Zen lowered shares of SoundHound AI from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. 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 report on Friday, August 8th. LADENBURG THALM/SH SH raised shares of SoundHound AI from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $16.00 in a report on Monday, August 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $12.00 target price on shares of SoundHound AI in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.36.

Insider Activity

In other news, insider James Ming Hom sold 79,530 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $9.36, for a total transaction of $744,400.80. Following the transaction, the insider owned 637,560 shares of the company’s stock, valued at approximately $5,967,561.60. The trade was a 11.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Keyvan Mohajer sold 254,376 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $9.36, for a total transaction of $2,380,959.36. Following the transaction, the chief executive officer directly owned 1,749,790 shares in the company, valued at approximately $16,378,034.40. The trade was a 12.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 913,317 shares of company stock valued at $8,679,813 in the last 90 days. 9.17% of the stock is owned by insiders.

About SoundHound AI

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.