Commonwealth Equity Services LLC Has $4 Million Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Commonwealth Equity Services LLC decreased its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 33.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 201,534 shares of the company’s stock after selling 101,314 shares during the period. Commonwealth Equity Services LLC’s holdings in SoundHound AI were worth $3,998,000 at the end of the most recent reporting period.

Hedge Fund Activities

Other hedge funds have also added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in shares of SoundHound AI in the 4th quarter valued at $3,432,000. Charles Schwab Investment Management Inc. lifted its position in shares of SoundHound AI by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after buying an additional 189,109 shares during the last quarter. Oriental Harbor Investment Fund acquired a new stake in SoundHound AI in the fourth quarter valued at about $8,964,000. Geode Capital Management LLC grew its position in SoundHound AI by 9.1% in the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after acquiring an additional 602,311 shares during the last quarter. Finally, Wealth Effects LLC acquired a new position in SoundHound AI during the fourth quarter worth about $357,000. 19.28% of the stock is owned by institutional investors.

Stock Performance

SoundHound AI Stock Performance: NASDAQ SOUN opened at $9.86 on Monday. The company has a market cap of $3.88 billion, a P/E ratio of -27.39, and a beta of 2.62. The company has a fifty-day simple moving average of $12.19 and a 200-day simple moving average of $10.44. The company has a current ratio of 2.58, a quick ratio of 2.58, and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month high of $24.98.

Insider Trading

In related news, CEO Keyvan Mohajer sold 156,288 shares of SoundHound AI stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total transaction of $3,157,017.60. Following the transaction, the chief executive officer now owns 2,021,666 shares of the company’s stock, valued at $40,837,653.20. The trade was a 7.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission. Corporate insiders own 12.28% of the company’s stock.

Analysts' Recommendations

Several equities analysts recently commented on SOUN shares. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.86.

About SoundHound AI

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enable businesses across automotive, TV, IoT, and customer service industries to deliver high-quality conversational experiences to their customers. Its products include the Houndify platform that offers a suite of tools to help brands build conversational voice assistants, SoundHound Chat AI that integrates with knowledge domains, and SoundHound Smart Answering which offers custom AI-powered voice assistant.

Want to see what other hedge funds are holding SOUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SoundHound AI, Inc. (NASDAQ:SOUN).

Receive News & Ratings for SoundHound AI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SoundHound AI and related companies with MarketBeat.com's FREE daily email newsletter.