5 Investors Betting Big on SoundHound AI (SOUN) Stock


  • Interest in SoundHound (SOUN) is exploding after Nvidia (NVDA) revealed a 1.73 million share stake in the company.
  • SoundHound Vice President, Engineering Majid Emani is the largest shareholder of SoundHound based on his last reported ownership stake.
  • CEO Keyvan Mohajer is also a significant shareholder of SOUN stock.
SOUN stock - 5 Investors Betting Big on SoundHound AI (SOUN) Stock

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SoundHound AI (NASDAQ:SOUN) got a major boost after Nvidia (NASDAQ:NVDA) revealed in its fourth-quarter 13F filing that it owned 1.73 million shares of the company, accounting for 1.59% of its 13F portfolio. Since then, SOUN stock has been on an absolute tear, rising higher by over 220% so far this year.

SoundHound operates as an artificial intelligence (AI) voice and conversational solutions company that boasts customers such as Hyundai (OTCMKTS:HYMTF) and Snap (NYSE:SNAP). According to TradingView, SOUN stock increased higher this week following the AI-RAN Alliance at the GSMA Mobile World Congress event. This was due to speculation that SoundHound could have a key role in providing cellular devices with AI features.

Meanwhile, a major catalyst is on the way for the company. SoundHound will report its Q4 and 2023 full-year results on Thursday, Feb. 29 after the market close. For the quarter, analysts are expecting revenue growth of 86.79% to $18 million. The company is expected to remain unprofitable with a GAAP EPS loss of 6 cents.

5 Investors Betting Big on SOUN Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q4, 137 13F filers disclosed a stake in SOUN stock, an increase of 20 filers compared to the prior quarter. These filers own a total of 59.57 million shares, up by 8.59% compared to Q3. Only one 13F filer owns SoundHound in their top 10 positions and that is Nvidia.

Hedge funds, which have data included in 13F metrics, were less bullish. 28 hedge funds disclosed a stake in SOUN stock compared to 24 quarter-over-quarter. However, total hedge fund ownership fell by 4.86% to 12.15 million shares.

With that in mind, let’s take a look at SoundHound’s largest shareholders:

  1. Majid Emani, Vice President, Engineering: 19.25 million shares. Emani’s stake is accurate as of April 2022.
  2. Keyvan Mohajer, CEO: 17.47 million shares. Mohajer’s stake is accurate as of April 2022.
  3. Vanguard: 13.84 million shares. Vanguard acquired 676,993 shares during Q4.
  4. BlackRock (NYSE:BLK): 11.75 million shares. BlackRock acquired 520,913 shares during Q4.
  5. Intrinsic Edge Capital Management: 4.84 million shares. Intrinsic acquired 1.56 million shares during Q4.

On the date of publication, Eddie Pan held a LONG position in NVDA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2024/02/5-investors-betting-big-on-soundhound-ai-soun-stock-2/.

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