SoundHound AI: Big Moves by Investors and Insiders

SoundHound AI has been grabbing attention lately. Farther Finance Advisors LLC boosted its stake in the company by a whopping 39% in the second quarter. They now own 9, 830 shares, worth about $105, 000. But they're not alone. Other big investors have also been busy. AlphaQuest LLC jumped in, buying a new position worth around $32, 000. Golden State Wealth Management doubled their stake, now owning 4, 230 shares. Kozak & Associates went big, increasing their holdings by over 6, 200%. Quarry LP and Larson Financial Group also upped their investments significantly. All this activity shows that institutional investors own nearly 19. 3% of SoundHound AI. But while investors are buying, insiders are selling. CTO Timothy Stonehocker sold 2, 247 shares, and CEO Keyvan Mohajer sold a massive 138, 523 shares. Together, insiders sold nearly 500, 000 shares in the last three months. This raises questions. Why are insiders selling while big investors are buying? SoundHound AI's stock has been on a rollercoaster. It opened at $17. 85 recently, with a market cap of $7. 28 billion. The stock has a high beta, meaning it's more volatile than the market. The company's earnings report didn't impress everyone. They missed estimates but showed huge revenue growth. Analysts have mixed feelings, with some rating it a strong buy and others a sell. The average price target is around $14. 36. SoundHound AI is all about voice AI. They help businesses in automotive, TV, IoT, and customer service create voice assistants. Their products include Houndify, SoundHound Chat AI, and SoundHound Smart Answering. The company is growing fast, but can it keep up the momentum?