SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 27,714 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 27,714 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $274,368.60. Following the sale, the chief technology officer now directly owns 768,867 shares in the company, valued at approximately $7,611,783.30. This represents a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Timothy Stonehocker also recently made the following trade(s):

• On Monday, March 24th, Timothy Stonehocker sold 3,333 shares of SoundHound AI stock. The shares were sold at an average price of $10.08, for a total transaction of $33,596.64.

SoundHound AI Trading Up 4.6 %

Shares of SoundHound AI stock traded up $0.45 during trading on Monday, hitting $10.31. 26,353,351 shares of the company were exchanged, compared to its average volume of 38,602,530. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a market capitalization of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.62. The firm’s fifty day moving average price is $12.19 and its 200 day moving average price is $10.44. SoundHound AI, Inc. has a 1-year low of $3.50 and a 1-year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). The firm had revenue of $34.54 million for the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. As a group, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wedbush upped their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd. DA Davidson lifted their price objective on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Finally, Northland Securities raised their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, SoundHound AI has an average rating of “Hold” and a consensus target price of $12.86.

Institutional Trading of SoundHound AI

A number of large investors have recently made changes to their positions in SOUN. Wellington Management Group LLP bought a new position in SoundHound AI during the fourth quarter worth about $7,789,000. California State Teachers Retirement System lifted its holdings in shares of SoundHound AI by 13.6% during the 4th quarter. California State Teachers Retirement System now owns 303,598 shares of the company’s stock valued at $6,023,000 after purchasing an additional 36,422 shares in the last quarter. Objective Capital Management LLC lifted its holdings in shares of SoundHound AI by 25.0% during the 4th quarter. Objective Capital Management LLC now owns 25,000 shares of the company’s stock valued at $496,000 after purchasing an additional 5,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in SoundHound AI by 171.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 69,831 shares of the company’s stock worth $1,385,000 after purchasing an additional 44,059 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in SoundHound AI during the 4th quarter worth approximately $544,000. Institutional investors own 19.28% of the company’s stock.

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.