Insider Selling: SoundHound AI (NASDAQ:SOUN) CFO Sells $1,280,574.96 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CFO Nitesh Sharan sold 60,376 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $21.21, for a total transaction of $1,280,574.96. Following the transaction, the chief financial officer owned 1,765,928 shares in the company, valued at $37,455,332.88. The trade was a 3.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Nitesh Sharan also recently made the following trade(s):

• On Monday, September 22nd, Nitesh Sharan sold 126,596 shares of SoundHound AI stock. The shares were sold at an average price of $16.58, for a total transaction of $2,098,961.68.

SoundHound AI Price Performance

Shares of SOUN stock opened at $19.02 on Friday. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of -30.19 and a beta of 2.60. The business has a fifty day moving average of $15.69 and a 200 day moving average of $12.00. SoundHound AI, Inc. has a 1 year low of $4.86 and a 1 year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.13). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The firm had revenue of $42.68 million for the quarter, compared to analysts’ expectations of $32.88 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm’s revenue for the quarter was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of SoundHound AI

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of SoundHound AI by 83.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company’s stock worth $25,000 after acquiring an additional 1,060 shares during the period. Advisors Asset Management Inc. increased its stake in shares of SoundHound AI by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company’s stock valued at $27,000 after purchasing an additional 1,023 shares in the last quarter. Investors Research Corp raised its holdings in SoundHound AI by 62.4% in the 3rd quarter. Investors Research Corp now owns 1,822 shares of the company’s stock worth $29,000 after purchasing an additional 700 shares during the period. AlphaQuest LLC purchased a new position in SoundHound AI during the first quarter worth approximately $32,000. Finally, Huntington National Bank boosted its position in SoundHound AI by 48.8% during the second quarter. Huntington National Bank now owns 3,050 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. 19.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SOUN has been the subject of a number of recent research reports. Oppenheimer began coverage on shares of SoundHound AI in a research report on Thursday, September 11th. They set a “market perform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of SoundHound AI in a research note on Tuesday, October 14th. LADENBURG THALM/SH SH upgraded shares of SoundHound AI from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $16.00 in a research report on Monday, August 11th. Northland Securities raised shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a report on Friday, August 8th. Finally, Northland Capmk upgraded SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

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.