SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami Sells 28,392 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 28,392 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,080.80. Following the sale, the vice president now directly owns 669,834 shares of the company’s stock, valued at $6,631,356.60. This represents a 4.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SoundHound AI Trading Up 4.6 %

Shares of SOUN stock opened at $10.31 on Tuesday. The stock has a market cap of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.62. SoundHound AI, Inc. has a 1 year low of $3.50 and a 1 year high of $24.98. 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 stock has a 50 day simple moving average of $12.14 and a 200 day simple moving average of $10.48.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company had revenue of $34.54 million for the quarter, compared to the consensus estimate of $33.70 million. On average, research analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

A number of large investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after acquiring an additional 830 shares during the period. Sound Income Strategies LLC lifted its stake in SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 1,271 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of SoundHound AI in the 4th quarter valued at $30,000. Future Financial Wealth Managment LLC bought a new position in shares of SoundHound AI in the 4th quarter valued at $40,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of SoundHound AI during the 4th quarter worth $40,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SOUN has been the subject of a number of research reports. DA Davidson raised their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Northland Securities raised their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. Wedbush upped their target price on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a report on Monday, February 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.86.

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.