SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus Sells 20,000 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus sold 20,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the completion of the transaction, the director now owns 108,117 shares in the company, valued at $2,213,154.99. This represents a 15.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, December 12th, Lawrence Marcus sold 25,000 shares of SoundHound AI stock. The shares were sold at an average price of $14.00, for a total value of $350,000.00.
• 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 Trading Up 19.7 %

SoundHound AI stock opened at $24.23 on Friday. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $24.98. The firm’s 50-day moving average is $10.29 and its 200-day moving average is $6.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $8.96 billion, a P/E ratio of -67.31 and a beta of 3.03.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. SoundHound AI’s revenue was up 88.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share. On average, equities analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on SOUN shares. Wedbush increased their target price on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. DA Davidson reaffirmed a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a report on Monday, September 30th. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Barclays restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, HC Wainwright lifted their price target on SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kings Path Partners LLC acquired a new stake in SoundHound AI in the second quarter worth $28,000. International Assets Investment Management LLC bought a new position in shares of SoundHound AI during the second quarter worth about $31,000. NBC Securities Inc. increased its holdings in shares of SoundHound AI by 97.8% in the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after acquiring an additional 3,818 shares during the period. Amalgamated Bank increased its holdings in shares of SoundHound AI by 108.0% in 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 during the period. Finally, Signaturefd LLC lifted its position in SoundHound AI by 27.3% in the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $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.