Lawrence Marcus Sells 25,000 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus sold 25,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $14.00, for a total transaction of $350,000.00. Following the sale, the director now directly owns 128,117 shares of the company’s stock, valued at $1,793,638. This represents a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 Price Performance

Shares of SOUN stock opened at $19.69 on Tuesday. The firm has a fifty day simple moving average of $7.78 and a 200-day simple moving average of $5.80. The company has a market capitalization of $7.28 billion, a PE ratio of -54.69 and a beta of 3.03. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $19.97. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data 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 company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.02 million. During the same period in the prior year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 88.7% on a year-over-year basis. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. DA Davidson reaffirmed a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. 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. Wedbush raised their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday. Finally, HC Wainwright upped their price target on shares of SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Institutional Investors Weigh In On SoundHound AI

Hedge funds have recently bought and sold shares of the business. Kings Path Partners LLC purchased a new position in shares of SoundHound AI during the 2nd quarter valued at approximately $28,000. International Assets Investment Management LLC acquired a new stake in SoundHound AI in the second quarter valued at $31,000. NBC Securities Inc. boosted 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 valued at $35,000 after acquiring an additional 3,818 shares during the last quarter. Amalgamated Bank grew its holdings in SoundHound AI by 108.0% during the 2nd 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. Finally, Signaturefd LLC increased its position in shares of SoundHound AI by 27.3% in the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after purchasing an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

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.