State Street Corp grew its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,197,414 shares of the company's stock after buying an additional 42,869 shares during the period. State Street Corp owned 2.01% of SoundHound AI worth $33,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Kings Path Partners LLC bought a new stake in SoundHound AI in the 2nd quarter valued at $28,000. International Assets Investment Management LLC purchased a new stake in shares of SoundHound AI in the second quarter worth about $31,000. NBC Securities Inc. boosted its stake in SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock valued at $35,000 after buying an additional 3,818 shares during the last quarter. Amalgamated Bank grew its holdings in SoundHound AI by 108.0% during the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company's stock valued at $39,000 after buying an additional 5,099 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of SoundHound AI by 27.3% during the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company's stock worth $41,000 after acquiring an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 19.28% of the company's stock.

Wall Street Analysts Forecast Growth

SOUN has been the subject of a number of recent research reports. LADENBURG THALM/SH SH reissued a "neutral" rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush upped their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. DA Davidson reiterated a "buy" rating and issued a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. Barclays restated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, HC Wainwright lifted their target price on SoundHound AI from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

SOUN opened at $21.75 on Friday. SoundHound AI, Inc. has a one year low of $1.62 and a one year high of $24.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of -60.42 and a beta of 3.03. The stock's 50 day moving average price is $9.01 and its 200-day moving average price is $6.21.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business's revenue was up 88.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. On average, equities analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling at SoundHound AI

In other news, CEO Keyvan Mohajer sold 465,394 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the transaction, the chief executive officer now owns 2,299,148 shares of the company's stock, valued at approximately $34,579,185.92. This represents a 16.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Marcus sold 30,000 shares of SoundHound AI stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the completion of the sale, the director now owns 178,117 shares of the company's stock, valued at $1,273,536.55. The trade was a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,321,786 shares of company stock valued at $35,065,286 in the last three months. Company insiders own 12.28% 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.

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