SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 3,333 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 3,333 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $33,596.64. Following the completion of the sale, the chief technology officer now owns 765,534 shares of the company’s stock, valued at $7,716,582.72. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Thursday, March 20th, Timothy Stonehocker sold 27,714 shares of SoundHound AI stock. The stock was sold at an average price of $9.90, for a total transaction of $274,368.60.

SoundHound AI Stock Up 4.6 %

SoundHound AI stock opened at $10.31 on Tuesday. 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 has a market cap of $4.05 billion, a PE ratio of -28.64 and a beta of 2.62. SoundHound AI, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $24.98. The firm’s 50-day simple moving average is $12.14 and its 200 day simple moving average is $10.48.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The business had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. Research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SOUN. Commons Capital LLC boosted its holdings in shares of SoundHound AI by 2.7% in the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after buying an additional 723 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in SoundHound AI by 33.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after acquiring an additional 750 shares during the last quarter. Keynote Financial Services LLC grew its position in shares of SoundHound AI by 4.7% during the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock valued at $329,000 after acquiring an additional 752 shares during the period. Blue Trust Inc. increased its stake in shares of SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after purchasing an additional 830 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of SoundHound AI by 16.4% during the 4th quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock worth $131,000 after purchasing an additional 929 shares during the last quarter. 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.