Themes Management Co LLC Boosts Position in SoundHound AI, Inc. $SOUN

Themes Management Co LLC increased its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 86.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,444 shares of the company’s stock after acquiring an additional 88,820 shares during the quarter. Themes Management Co LLC’s holdings in SoundHound AI were worth $1,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in SoundHound AI by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 45,367,437 shares of the company’s stock worth $452,313,000 after purchasing an additional 1,909,868 shares during the period. Geode Capital Management LLC increased its holdings in shares of SoundHound AI by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 9,180,321 shares of the company’s stock worth $91,543,000 after buying an additional 273,097 shares during the last quarter. Morgan Stanley increased its holdings in shares of SoundHound AI by 48.1% during the 4th quarter. Morgan Stanley now owns 8,987,522 shares of the company’s stock worth $89,606,000 after buying an additional 2,917,280 shares during the last quarter. State Street Corp raised its position in shares of SoundHound AI by 0.9% during the 4th quarter. State Street Corp now owns 8,691,235 shares of the company’s stock valued at $86,652,000 after buying an additional 80,908 shares during the period. Finally, UBS Group AG raised its position in shares of SoundHound AI by 77.6% during the 4th quarter. UBS Group AG now owns 6,124,283 shares of the company’s stock valued at $61,059,000 after buying an additional 2,676,707 shares during the period. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. LADENBURG THALM/SH SH upgraded SoundHound AI to a “strong-buy” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a research report on Monday, June 15th. Finally, DA Davidson restated a “buy” rating and issued a $14.00 target price on shares of SoundHound AI in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, SoundHound AI has an average rating of “Moderate Buy” and a consensus price target of $14.93.

SoundHound AI Trading Down 1.0%

SOUN stock opened at $6.16 on Friday. The company has a market capitalization of $2.67 billion, a PE ratio of -13.11 and a beta of 2.62. SoundHound AI, Inc. has a 12-month low of $5.83 and a 12-month high of $22.17. The business’s fifty day moving average price is $7.17 and its 200 day moving average price is $7.94.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $44.20 million for the quarter, compared to analysts’ expectations of $42.56 million. SoundHound AI had a negative net margin of 91.84% and a negative return on equity of 40.15%. The business’s revenue was up 51.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) earnings per share. Research analysts predict that SoundHound AI, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at SoundHound AI

In related news, CTO Timothy Stonehocker sold 18,802 shares of SoundHound AI stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.46, for a total value of $140,262.92. Following the completion of the transaction, the chief technology officer owned 502,290 shares in the company, valued at approximately $3,747,083.40. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Majid Emami sold 28,843 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.46, for a total transaction of $215,168.78. Following the sale, the senior vice president directly owned 472,983 shares in the company, valued at approximately $3,528,453.18. The trade was a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 268,022 shares of company stock valued at $1,999,444. Corporate insiders own 8.84% of the company’s stock.

About SoundHound AI

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.