Regatta Capital Group LLC Makes New Investment in SoundHound AI, Inc. (NASDAQ:SOUN)

Regatta Capital Group LLC acquired a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,037 shares of the company’s stock, valued at approximately $219,000.

Several other large investors also recently added to or reduced their stakes in the stock. Commons Capital LLC increased its holdings in SoundHound AI by 2.7% during the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after purchasing an additional 723 shares during the period. ST Germain D J Co. Inc. boosted its stake in shares of SoundHound AI by 33.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after purchasing an additional 750 shares in the last quarter. Sound Income Strategies LLC raised its stake in SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in SoundHound AI by 11.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock valued at $89,000 after acquiring an additional 1,887 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of SoundHound AI by 13.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company’s stock valued at $80,000 after acquiring an additional 1,975 shares during the period. 19.28% of the stock is owned by hedge funds and other institutional investors.

SoundHound AI Trading Down 3.4 %

NASDAQ:SOUN opened at $15.84 on Friday. The company’s 50 day moving average is $14.91 and its two-hundred day moving average is $8.55. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $24.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same period in the prior year, the firm earned ($0.09) EPS. The firm’s revenue was up 88.7% on a year-over-year basis. On average, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

SOUN has been the subject of a number of analyst reports. LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Barclays reissued a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a report on Monday, January 13th. Wedbush boosted their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Northland Securities raised their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SoundHound AI presently has a consensus rating of “Moderate Buy” and an average target price of $12.36.

Insider Activity

In other news, VP Majid Emami sold 368,662 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $15.00, for a total value of $5,529,930.00. Following the sale, the vice president now owns 735,685 shares in the company, valued at $11,035,275. This represents a 33.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keyvan Mohajer sold 465,394 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $15.04, for a total value of $6,999,525.76. Following the completion of the transaction, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at $34,579,185.92. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. Company insiders own 12.28% of the company’s stock.

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, 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.