TriaGen Wealth Management LLC Invests $47,000 in SoundHound AI, Inc. (NASDAQ:SOUN)

TriaGen Wealth Management LLC acquired a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $47,000.

Several other institutional investors also recently modified their holdings of SOUN. Kings Path Partners LLC acquired a new stake in shares of SoundHound AI during the 2nd quarter worth approximately $28,000. Hexagon Capital Partners LLC acquired a new stake in shares of SoundHound AI during the 1st quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of SoundHound AI during the 2nd quarter worth approximately $31,000. NBC Securities Inc. grew its holdings in shares of SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after purchasing an additional 3,818 shares in the last quarter. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of SoundHound AI during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on SOUN. Wedbush reaffirmed an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research note on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, September 18th. DA Davidson reaffirmed a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a research note on Monday, September 30th. Cantor Fitzgerald raised SoundHound AI from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.00 to $7.00 in a research note on Friday, August 9th. Finally, Northland Securities boosted their price target on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, SoundHound AI presently has a consensus rating of “Moderate Buy” and an average price target of $7.08.

Insider Transactions at SoundHound AI

In other news, CEO Keyvan Mohajer sold 63,544 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the sale, the chief executive officer now owns 2,299,148 shares in the company, valued at $11,311,808.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Lawrence Marcus sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the sale, the director now owns 74,038 shares in the company, valued at $371,670.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Keyvan Mohajer sold 63,544 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $4.92, for a total value of $312,636.48. Following the sale, the chief executive officer now owns 2,299,148 shares of the company’s stock, valued at approximately $11,311,808.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,275 shares of company stock worth $1,606,644 over the last 90 days. 21.30% of the stock is owned by insiders.

SoundHound AI Stock Up 5.2 %

SOUN traded up $0.27 during trading on Friday, hitting $5.50. The company’s stock had a trading volume of 25,680,201 shares, compared to its average volume of 34,336,016. The firm’s 50 day moving average price is $4.88 and its two-hundred day moving average price is $4.74. SoundHound AI, Inc. has a 12 month low of $1.49 and a 12 month high of $10.25. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -14.47 and a beta of 2.73.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). SoundHound AI had a negative net margin of 195.65% and a negative return on equity of 93.28%. The business had revenue of $13.46 million during the quarter, compared to the consensus estimate of $13.09 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The company’s revenue for the quarter was up 53.8% compared to the same quarter last year. On average, sell-side analysts forecast that SoundHound AI, Inc. will post -0.36 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.