SoundHound AI, Inc. (NASDAQ:SOUN) CFO Nitesh Sharan Sells 57,761 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CFO Nitesh Sharan sold 57,761 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $1,172,548.30. Following the sale, the chief financial officer now directly owns 1,502,650 shares of the company’s stock, valued at approximately $30,503,795. The trade was a 3.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

SoundHound AI Stock Performance

SOUN opened at $24.23 on Friday. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of -67.31 and a beta of 3.03. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $24.98. 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 fifty day moving average of $10.29 and a 200 day moving average of $6.67.

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

Institutional Trading of SoundHound AI

A number of large investors have recently added to or reduced their stakes in SOUN. Kings Path Partners LLC bought a new position in shares of SoundHound AI during the 2nd quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new stake in SoundHound AI during the second quarter valued at $31,000. NBC Securities Inc. lifted its position in 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 purchasing an additional 3,818 shares during the last quarter. Amalgamated Bank grew its stake 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 buying an additional 5,099 shares in the last quarter. Finally, Signaturefd LLC grew its stake 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 buying an additional 2,200 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

Analyst Ratings Changes

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