James Ming Hom Sells 28,843 Shares of SoundHound AI (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 28,843 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.46, for a total transaction of $215,168.78. Following the completion of the transaction, the insider directly owned 743,521 shares of the company’s stock, valued at approximately $5,546,666.66. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, March 20th, James Ming Hom sold 31,019 shares of SoundHound AI stock. The stock was sold at an average price of $6.79, for a total transaction of $210,619.01.

SoundHound AI Stock Performance

Shares of NASDAQ SOUN traded down $0.07 during trading on Wednesday, reaching $6.96. The company had a trading volume of 19,183,094 shares, compared to its average volume of 25,995,096. SoundHound AI, Inc. has a 52 week low of $5.83 and a 52 week high of $22.17. The stock has a market cap of $3.01 billion, a PE ratio of -14.81 and a beta of 2.56. The business’s 50 day moving average price is $7.94 and its 200-day moving average price is $8.81.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SoundHound AI had a negative return on equity of 40.15% and a negative net margin of 91.84%.The business had revenue of $44.20 million for the quarter, compared to analyst estimates of $42.56 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The firm’s quarterly revenue was up 51.7% compared to the same quarter last year. Equities analysts anticipate that SoundHound AI, Inc. will post -0.45 earnings per share for the current year.

SoundHound AI News Roundup

Here are the key news stories impacting SoundHound AI this week:

• Positive Sentiment: Analysts and market commentary continue to point to SoundHound’s growth potential in conversational AI and enterprise voice solutions, with some bullish views centered on a longer-term revenue ramp.
• Neutral Sentiment: Several insider sales were disclosed, but the company stated they were for tax withholding related to vesting equity awards rather than open-market selling for discretionary reasons.
• Negative Sentiment: Multiple top executives sold shares in the same filing window, which can add pressure to sentiment and reinforce investor concern about the stock’s near-term valuation.
• Negative Sentiment: Recent coverage also emphasized that SoundHound AI trades at a premium, suggesting some investors may be questioning whether the current price fully reflects near-term execution risk.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SOUN. Vanguard Group Inc. grew its holdings in SoundHound AI by 16.4% during the third quarter. Vanguard Group Inc. now owns 43,457,569 shares of the company’s stock valued at $698,798,000 after purchasing an additional 6,132,648 shares during the period. Morgan Stanley grew its holdings in SoundHound AI by 48.1% during the fourth quarter. Morgan Stanley now owns 8,987,522 shares of the company’s stock valued at $89,606,000 after purchasing an additional 2,917,280 shares during the period. UBS Group AG lifted its stake in SoundHound AI by 77.6% in the fourth quarter. UBS Group AG now owns 6,124,283 shares of the company’s stock valued at $61,059,000 after buying an additional 2,676,707 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in SoundHound AI by 2,259.7% in the fourth quarter. Voloridge Investment Management LLC now owns 2,199,511 shares of the company’s stock valued at $21,929,000 after buying an additional 2,106,298 shares in the last quarter. Finally, Jump Financial LLC bought a new position in SoundHound AI in the third quarter valued at approximately $21,679,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler reiterated a “neutral” rating and set a $9.00 price target (down from $11.00) on shares of SoundHound AI in a research report on Friday, February 27th. DA Davidson reiterated a “buy” rating and set a $14.00 price target on shares of SoundHound AI in a research report on Wednesday, April 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundHound AI in a research report on Monday. LADENBURG THALM/SH SH upgraded shares of SoundHound AI to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, HC Wainwright lowered their price target on shares of SoundHound AI from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.93.

About SoundHound AI

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.