SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 34,407 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 34,407 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $698,462.10. Following the completion of the transaction, the chief technology officer now owns 796,581 shares of the company’s stock, valued at $16,170,594.30. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SoundHound AI Stock Down 1.2 %

Shares of SOUN stock opened at $23.95 on Friday. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $24.98. The firm has a market capitalization of $8.86 billion, a PE ratio of -66.53 and a beta of 3.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The stock’s 50-day simple moving average is $10.66 and its 200-day simple moving average is $6.80.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same quarter in the prior year, the company earned ($0.09) EPS. SoundHound AI’s quarterly revenue was up 88.7% on a year-over-year basis. Equities analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SOUN shares. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright raised their price objective on SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Barclays reaffirmed a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush raised their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, DA Davidson restated a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOUN. Oppenheimer & Co. Inc. grew its position in SoundHound AI by 11.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $89,000 after purchasing an additional 1,887 shares during the period. Integrated Wealth Concepts LLC grew its holdings in SoundHound AI by 13.0% during the third quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company’s stock worth $80,000 after acquiring an additional 1,975 shares during the period. Signaturefd LLC raised its position in SoundHound AI by 19.5% during the third quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock valued at $57,000 after acquiring an additional 2,000 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in SoundHound AI by 24.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock valued at $46,000 after acquiring an additional 2,320 shares during the period. Finally, Wolverine Asset Management LLC boosted its position in SoundHound AI by 7.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 35,102 shares of the company’s stock worth $164,000 after purchasing an additional 2,522 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.