Themes Management Co LLC Invests $1.02 Million in SoundHound AI, Inc. $SOUN

Themes Management Co LLC acquired a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 102,624 shares of the company’s stock, valued at approximately $1,023,000.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in SoundHound AI by 71.3% in the 1st quarter. Royal Bank of Canada now owns 160,299 shares of the company’s stock worth $1,301,000 after acquiring an additional 66,714 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in SoundHound AI by 8.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 14,676 shares of the company’s stock valued at $119,000 after purchasing an additional 1,201 shares during the last quarter. NewEdge Advisors LLC grew its stake in SoundHound AI by 12.9% during the 1st quarter. NewEdge Advisors LLC now owns 41,030 shares of the company’s stock valued at $333,000 after purchasing an additional 4,692 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of SoundHound AI by 69.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company’s stock valued at $21,434,000 after purchasing an additional 1,085,473 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of SoundHound AI by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 692,170 shares of the company’s stock worth $5,620,000 after purchasing an additional 63,398 shares during the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

SoundHound AI Price Performance

Shares of SOUN stock opened at $8.17 on Tuesday. SoundHound AI, Inc. has a 52-week low of $5.83 and a 52-week high of $22.17. The stock has a market cap of $3.45 billion, a PE ratio of -17.38 and a beta of 2.58. The business has a 50-day simple moving average of $7.60 and a 200-day simple moving average of $9.39.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SoundHound AI had a negative return on equity of 40.15% and a negative net margin of 91.84%.The company had revenue of $44.20 million for the quarter, compared to analyst estimates of $42.56 million. During the same period last year, the business earned ($0.06) earnings per share. The firm’s revenue was up 51.7% on a year-over-year basis. Sell-side analysts anticipate that SoundHound AI, Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at SoundHound AI

In other news, CFO Nitesh Sharan sold 44,027 shares of SoundHound AI stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $6.79, for a total transaction of $298,943.33. Following the completion of the transaction, the chief financial officer directly owned 1,661,121 shares of the company’s stock, valued at $11,279,011.59. The trade was a 2.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Majid Emami sold 31,019 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.79, for a total transaction of $210,619.01. Following the completion of the transaction, the senior vice president owned 501,826 shares of the company’s stock, valued at approximately $3,407,398.54. This represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 307,973 shares of company stock worth $2,091,110. 8.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on SOUN. LADENBURG THALM/SH SH raised SoundHound AI to a “strong-buy” rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of SoundHound AI from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. HC Wainwright reduced their price target on shares of SoundHound AI from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. DA Davidson restated a “buy” rating and set a $14.00 price objective on shares of SoundHound AI in a research note on Wednesday, April 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price objective (down from $11.00) on shares of SoundHound AI in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SoundHound AI currently has an average rating of “Moderate Buy” and an average price target of $14.93.

SoundHound AI Profile

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.