SoundHound AI, Inc. (NASDAQ:SOUN) Director Sells $409,400.00 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus sold 20,000 shares of SoundHound AI stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the sale, the director now owns 108,117 shares of the company’s stock, valued at $2,213,154.99. The trade was a 15.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Lawrence Marcus also recently made the following trade(s):

• On Thursday, December 12th, Lawrence Marcus sold 25,000 shares of SoundHound AI stock. The stock was sold at an average price of $14.00, for a total value of $350,000.00.
• On Thursday, November 21st, Lawrence Marcus sold 30,000 shares of SoundHound AI stock. The shares were sold at an average price of $7.15, for a total value of $214,500.00.

SoundHound AI Stock Down 1.2 %

Shares of SOUN opened at $23.95 on Friday. 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 market cap of $8.86 billion, a P/E ratio of -66.53 and a beta of 3.03. The stock’s 50 day moving average is $10.66 and its two-hundred day moving average is $6.81. SoundHound AI, Inc. has a 12 month low of $1.62 and a 12 month high of $24.98.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SOUN shares. Barclays reiterated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright increased their price objective on shares of SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Wedbush boosted their target price 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. 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. Finally, DA Davidson restated a “buy” rating and issued a $9.50 target price on shares of SoundHound AI in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOUN. State Street Corp raised its holdings in shares of SoundHound AI by 0.6% during the third quarter. State Street Corp now owns 7,197,414 shares of the company’s stock valued at $33,540,000 after acquiring an additional 42,869 shares during the last quarter. Geode Capital Management LLC raised its stake in SoundHound AI by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after purchasing an additional 602,311 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in SoundHound AI by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock valued at $12,033,000 after purchasing an additional 189,109 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in SoundHound AI by 92.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock worth $3,940,000 after purchasing an additional 479,912 shares during the last quarter. Finally, Carnegie Investment Counsel purchased a new stake in shares of SoundHound AI during the third quarter worth $4,193,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

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.