Insider Selling: SoundHound AI, Inc. (NASDAQ:SOUN) CTO Sells $33,596.64 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 3,333 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $33,596.64. Following the completion of the sale, the chief technology officer now directly owns 765,534 shares of the company’s stock, valued at $7,716,582.72. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Timothy Stonehocker also recently made the following trade(s):

• On Thursday, March 20th, Timothy Stonehocker sold 27,714 shares of SoundHound AI stock. The stock was sold at an average price of $9.90, for a total transaction of $274,368.60.

SoundHound AI Stock Performance

SOUN stock opened at $9.38 on Thursday. The company has a 50 day moving average price of $12.00 and a 200 day moving average price of $10.52. SoundHound AI, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $24.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The stock has a market capitalization of $3.74 billion, a PE ratio of -26.06 and a beta of 2.62.

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). The firm had revenue of $34.54 million for the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. Analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in 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. Sound Income Strategies LLC grew its holdings in SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 1,271 shares during the period. Orion Capital Management LLC bought a new stake in shares of SoundHound AI during the 4th quarter valued at $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of SoundHound AI in the 4th quarter valued at $40,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of SoundHound AI in the 4th quarter worth $40,000. Institutional investors own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. DA Davidson lifted their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Northland Securities increased their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a report on Monday, March 3rd. Finally, Wedbush raised their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.