Sei Investments Co. Has $956,000 Stake in SoundHound AI, Inc. (NASDAQ:SOUN)

Sei Investments Co. Stake Increase in SoundHound AI, Inc.

Sei Investments Co. increased its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN – Free Report) by 62.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,196 shares of the company’s stock after purchasing an additional 18,566 shares during the quarter. Sei Investments Co.’s holdings in SoundHound AI were worth $956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC bought a new position in SoundHound AI in the 4th quarter valued at $3,432,000. Charles Schwab Investment Management Inc. boosted its holdings in SoundHound AI by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock valued at $12,033,000 after acquiring an additional 189,109 shares during the last quarter.

Oriental Harbor Investment Fund bought a new position in SoundHound AI in the fourth quarter valued at about $8,964,000. Geode Capital Management LLC increased 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 worth $33,529,000 after purchasing an additional 602,311 shares during the period. Finally, Wealth Effects LLC bought a new stake in SoundHound AI during the 4th quarter worth about $357,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Price Performance

Shares of SOUN stock opened at $7.60 on Tuesday. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -21.11 and a beta of 2.73. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month high of $24.98. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $10.90 and a 200-day moving average of $10.75.

SoundHound AI (NASDAQ:SOUN – Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). The business had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. On average, equities research analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other SoundHound AI news, Director Diana Sroka sold 3,402 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $34,292.16. Following the completion of the transaction, the director now owns 138,850 shares in the company, valued at approximately $1,399,608. This represents a 2.39 % decrease in their position.

Also, insider James Ming Hom sold 51,196 shares of SoundHound AI stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $10.25, for a total value of $524,759.00. Following the completion of the sale, the insider now directly owns 638,456 shares in the company, valued at $6,544,174. This represents a 7.42 % decrease in their position. In the last three months, insiders sold 500,565 shares of company stock valued at $4,999,726. 12.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SOUN shares. DA Davidson lifted their price target on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a report on Monday, March 3rd.

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. Northland Securities raised their price target on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. Finally, Cantor Fitzgerald upgraded SoundHound AI to a “hold” rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.86.