SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami Sells 37,459 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 37,459 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $760,417.70. Following the completion of the transaction, the vice president now owns 698,226 shares of the company’s stock, valued at approximately $14,173,987.80. This trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Majid Emami also recently made the following trade(s):

• On Friday, December 6th, Majid Emami sold 368,662 shares of SoundHound AI stock. The shares were sold at an average price of $15.00, for a total value of $5,529,930.00.
• On Monday, December 9th, Majid Emami sold 298,086 shares of SoundHound AI stock. The stock was sold at an average price of $15.04, for a total value of $4,483,213.44.
• On Monday, December 2nd, Majid Emami sold 94,067 shares of SoundHound AI stock. The shares were sold at an average price of $9.05, for a total value of $851,306.35.

SoundHound AI Stock Up 19.7 %

Shares of NASDAQ SOUN opened at $24.23 on Friday. SoundHound AI, Inc. has a 12-month low of $1.62 and a 12-month high of $24.98. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8.96 billion, a PE ratio of -67.31 and a beta of 3.03. The company’s fifty day simple moving average is $10.29 and its 200 day simple moving average is $6.67.

SoundHound AI (NASDAQ:SOUN) last issued its 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 return on equity of 55.58% and a negative net margin of 163.58%. The company had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same period last year, the business posted ($0.09) EPS. The firm’s revenue for the quarter was up 88.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

Several hedge funds and other institutional investors have recently modified their holdings of SOUN. Kings Path Partners LLC bought a new position in shares of SoundHound AI in the 2nd quarter worth $28,000. International Assets Investment Management LLC bought a new position in shares of SoundHound AI in the second quarter valued at $31,000. NBC Securities Inc. grew its holdings in shares of SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after buying an additional 3,818 shares during the last quarter. Amalgamated Bank increased its position in shares of SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after acquiring an additional 5,099 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of SoundHound AI by 27.3% in the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

Analyst Ratings Changes

SOUN has been the topic of several analyst reports. HC Wainwright upped their target price on SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a report on Monday. DA Davidson reiterated a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Barclays reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, SoundHound AI presently has a consensus rating of “Moderate Buy” and an average target price of $12.07.

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.