CalSTRS Boosts SoundHound AI Stake by 25%

California State Teachers Retirement System increased its SoundHound AI holdings by 25% in Q1, acquiring 87,998 additional shares for a total of 440,023 shares valued at $3.02 million. Several other institutional investors also expanded their positions, with institutions collectively owning 19.28% of company stock. SoundHound AI recently beat quarterly earnings estimates, reporting revenue of $61.9 million, up 45% year-over-year. Analyst ratings remain mixed, with DA Davidson maintaining a buy rating and Piper Sandler holding a neutral stance, while SOUN stock trades at $8.02 with a $3.47 billion market cap.