SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 34,407 Shares of 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SoundHound AI Stock Up 19.7 %

Shares of NASDAQ:SOUN opened at $24.23 on Friday. The firm 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 1 year low of $1.62 and a 1 year 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 firm’s 50-day moving average is $10.29 and its two-hundred day moving average is $6.67.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate 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 quarter last year, the company posted ($0.09) EPS. The firm’s revenue was up 88.7% compared to the same quarter last year. Analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Investors Weigh In On SoundHound AI

Several large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. grew its position in shares of SoundHound AI by 11.0% during the third quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $89,000 after buying an additional 1,887 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in SoundHound AI by 13.0% in the third quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company’s stock valued at $80,000 after acquiring an additional 1,975 shares in the last quarter. Signaturefd LLC lifted its stake in SoundHound AI by 19.5% in the third quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock worth $57,000 after acquiring an additional 2,000 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in SoundHound AI by 24.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock worth $46,000 after acquiring an additional 2,320 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its position in shares of SoundHound AI by 7.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 35,102 shares of the company’s stock valued at $164,000 after purchasing an additional 2,522 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. DA Davidson reiterated a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. HC Wainwright upped their price target on SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a research note on Monday. Barclays reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush upped their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.