Charles Schwab Investment Management Inc. Boosts Holdings
Charles Schwab Investment Management Inc. boosted its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,725,693 shares of the company’s stock after buying an additional 143,487 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.74% of SoundHound AI worth $54,078,000 as of its most recent SEC filing.
Other Institutional Investors and Hedge Funds Activity
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Commons Capital LLC increased its holdings in SoundHound AI by 2.7% during the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after buying an additional 723 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in shares of SoundHound AI by 33.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after buying an additional 750 shares during the period. Keynote Financial Services LLC increased its stake in shares of SoundHound AI by 4.7% in the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock worth $329,000 after buying an additional 752 shares during the period.
Analyst Ratings Changes
A number of brokerages have recently commented on SOUN. Wedbush boosted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Northland Securities increased their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. DA Davidson upped their price target on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th.
Insider Buying and Selling at SoundHound AI
In related news, Director Lawrence Marcus sold 20,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the transaction, the director now directly owns 108,117 shares in the company, valued at approximately $2,213,154.99. This represents a 15.61 % decrease in their ownership of the stock.
SoundHound AI Stock Down 2.4 %
Shares of NASDAQ:SOUN opened at $8.91 on Friday. 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 business has a fifty day moving average of $13.05 and a two-hundred day moving average of $10.15. The stock has a market cap of $3.50 billion, a P/E ratio of -24.75 and a beta of 2.62. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98. SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, February 27th.
About SoundHound AI
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.
