KBC Group NV Sells 7,507 Shares of SoundHound AI, Inc. $SOUN

KBC Group NV decreased its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 46.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,699 shares of the company’s stock after selling 7,507 shares during the quarter. KBC Group NV’s holdings in SoundHound AI were worth $93,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of SoundHound AI during the first quarter worth about $2,395,000. Northern Trust Corp raised its holdings in SoundHound AI by 2.5% in the 1st quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock valued at $24,190,000 after buying an additional 72,766 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in SoundHound AI in the 2nd quarter valued at approximately $3,696,000. Liontrust Investment Partners LLP acquired a new stake in SoundHound AI during the 1st quarter worth approximately $1,639,000. Finally, First Manhattan CO. LLC. bought a new stake in SoundHound AI during the 1st quarter worth approximately $985,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Stock Down 0.6%

Shares of NASDAQ SOUN opened at $11.22 on Friday. The company has a market capitalization of $4.57 billion, a PE ratio of -13.36 and a beta of 2.60. SoundHound AI, Inc. has a twelve month low of $6.52 and a twelve month high of $24.98. The firm has a fifty day simple moving average of $16.32 and a 200 day simple moving average of $13.19.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The firm had revenue of $42.05 million during the quarter, compared to the consensus estimate of $40.48 million. During the same period last year, the business posted ($0.04) EPS. The business’s revenue was up 67.6% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of SoundHound AI in a research report on Tuesday, October 14th. Northland Capmk raised shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Piper Sandler increased their price objective on SoundHound AI from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of SoundHound AI in a report on Thursday, September 11th. Finally, Wall Street Zen lowered SoundHound AI from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.42.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, CTO Timothy Stonehocker sold 70,524 shares of SoundHound AI stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total value of $1,410,480.00. Following the completion of the sale, the chief technology officer directly owned 606,525 shares in the company, valued at approximately $12,130,500. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Nitesh Sharan sold 60,376 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $21.21, for a total value of $1,280,574.96. Following the completion of the transaction, the chief financial officer directly owned 1,765,928 shares in the company, valued at approximately $37,455,332.88. This trade represents a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 787,260 shares of company stock valued at $13,973,056 over the last ninety days. Insiders own 9.17% of the company’s stock.

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.