SoundHound AI, Inc. (NASDAQ:SOUN) CTO Sells $698,462.10 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 34,407 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $698,462.10. Following the completion of the transaction, the chief technology officer now owns 796,581 shares in the company, valued at $16,170,594.30. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SoundHound AI Stock Up 19.7 %

Shares of SOUN traded up $3.99 during trading hours on Thursday, hitting $24.23. The company had a trading volume of 129,107,203 shares, compared to its average volume of 41,064,262. 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 company has a market capitalization of $8.96 billion, a PE ratio of -67.31 and a beta of 3.03. SoundHound AI, Inc. has a one year low of $1.62 and a one year high of $24.98. The company’s fifty day moving average price is $9.91 and its two-hundred day moving average price is $6.54.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $25.10 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. As a group, equities analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Kings Path Partners LLC purchased a new position in SoundHound AI in the second quarter worth $28,000. NBC Securities Inc. grew its stake in 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 last quarter. International Assets Investment Management LLC acquired a new position in SoundHound AI during the 2nd quarter valued at about $31,000. Farther Finance Advisors LLC raised its stake in SoundHound AI by 298.5% in the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after buying an additional 6,716 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in SoundHound AI by 108.0% in the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after acquiring an additional 5,099 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SOUN. DA Davidson reissued a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a report on Monday, September 30th. HC Wainwright boosted 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. Barclays reaffirmed a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush boosted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.07.

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.