Forefront Wealth Management Inc. Takes $109,000 Position in SoundHound AI, Inc. $SOUN

Forefront Wealth Management Inc. bought a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,165 shares of the company’s stock, valued at approximately $109,000.

A number of other large investors also recently bought and sold shares of SOUN. AlphaQuest LLC purchased a new stake in SoundHound AI in the 1st quarter worth approximately $32,000. Golden State Wealth Management LLC boosted its holdings in SoundHound AI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company’s stock worth $34,000 after buying an additional 2,115 shares in the last quarter. Kozak & Associates Inc. grew its position in SoundHound AI by 6,249.0% during the second quarter. Kozak & Associates Inc. now owns 3,238 shares of the company’s stock valued at $35,000 after buying an additional 3,187 shares during the period. Quarry LP increased its holdings in SoundHound AI by 1,552.7% in the first quarter. Quarry LP now owns 5,272 shares of the company’s stock valued at $43,000 after buying an additional 4,953 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of SoundHound AI by 72.7% in the first quarter. Larson Financial Group LLC now owns 7,027 shares of the company’s stock worth $57,000 after acquiring an additional 2,959 shares during the period. 19.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Keyvan Mohajer sold 138,523 shares of SoundHound AI stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $2,216,368.00. Following the transaction, the chief executive officer owned 2,461,267 shares in the company, valued at $39,380,272. The trade was a 5.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Ming Hom sold 42,119 shares of SoundHound AI stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $673,904.00. Following the transaction, the insider directly owned 845,441 shares in the company, valued at $13,527,056. This trade represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 495,196 shares of company stock valued at $8,068,135 in the last 90 days. 9.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SOUN shares. Northland Securities upgraded SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 target price on the stock in a research report on Friday, August 8th. Wedbush reissued an “outperform” rating and issued a $16.00 price objective on shares of SoundHound AI in a report on Thursday, September 11th. LADENBURG THALM/SH SH upgraded SoundHound AI from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $9.00 to $16.00 in a research report on Monday, August 11th. DA Davidson increased their target price on SoundHound AI from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Northland Capmk raised shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.36.

SoundHound AI Price Performance

Shares of NASDAQ:SOUN opened at $15.94 on Monday. SoundHound AI, Inc. has a 1 year low of $4.45 and a 1 year high of $24.98. The firm has a market capitalization of $6.50 billion, a PE ratio of -25.30 and a beta of 2.58. The business’s 50 day moving average price is $13.54 and its 200-day moving average price is $11.07.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) earnings per share 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 firm had revenue of $42.68 million during the quarter, compared to analysts’ expectations of $32.88 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The company’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, analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current 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.