SoundHound AI, Inc. (NASDAQ:SOUN) Insider Sells $746,451.30 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 36,771 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $746,451.30. Following the sale, the insider now owns 718,040 shares in the company, valued at approximately $14,576,212. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

James Ming Hom also recently made the following trade(s):

• On Monday, December 16th, James Ming Hom sold 58,382 shares of SoundHound AI stock. The shares were sold at an average price of $18.35, for a total transaction of $1,071,309.70.
• On Wednesday, December 4th, James Ming Hom sold 53,891 shares of SoundHound AI stock. The shares were sold at an average price of $10.00, for a total transaction of $538,910.00.

SoundHound AI Trading Down 1.2 %

SOUN opened at $23.95 on Friday. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. The stock has a market capitalization of $8.86 billion, a PE ratio of -66.53 and a beta of 3.03. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $10.66 and a two-hundred day moving average price of $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, beating analysts’ consensus estimates 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 business had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. During the same quarter last year, the business posted ($0.09) earnings per share. SoundHound AI’s revenue for the quarter was up 88.7% compared to the same quarter last year. As a group, equities analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors and hedge funds have recently made changes to their positions in SOUN. Kings Path Partners LLC acquired a new stake in SoundHound AI in the second quarter worth about $28,000. International Assets Investment Management LLC bought a new position in shares of SoundHound AI in the 2nd quarter valued at about $31,000. NBC Securities Inc. grew its position in shares of SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after buying an additional 3,818 shares during the period. Amalgamated Bank raised its stake in shares of SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after buying an additional 5,099 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in SoundHound AI by 27.3% in the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $41,000 after buying an additional 2,200 shares during the period. Institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

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

About SoundHound AI

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.