SoundHound AI, Inc. (NASDAQ:SOUN) Insider Sells $281,041.20 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 28,388 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,041.20. Following the sale, the insider now owns 689,652 shares of the company’s stock, valued at approximately $6,827,554.80. The trade was a 3.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 24th, James Ming Hom sold 51,196 shares of SoundHound AI stock. The shares were sold at an average price of $10.25, for a total transaction of $524,759.00.

SoundHound AI Stock Down 1.1 %

Shares of SoundHound AI stock opened at $10.20 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a 1-year low of $3.50 and a 1-year high of $24.98. The business’s fifty day moving average price is $12.09 and its two-hundred day moving average price is $10.52. The company has a market capitalization of $4.01 billion, a P/E ratio of -28.33 and a beta of 2.62.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data 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). The company had revenue of $34.54 million for the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. As a group, research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of SoundHound AI

A number of institutional investors have recently made changes to their positions in SOUN. Commons Capital LLC raised its holdings in SoundHound AI by 2.7% during the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after purchasing an additional 723 shares in the last quarter. ST Germain D J Co. Inc. increased its position in shares of SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after purchasing an additional 750 shares during the period. Keynote Financial Services LLC raised its stake in shares of SoundHound AI by 4.7% in the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock worth $329,000 after buying an additional 752 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after buying an additional 830 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in SoundHound AI by 16.4% during the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock valued at $131,000 after buying an additional 929 shares in the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

About SoundHound AI

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.