SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 16,039 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 16,039 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $4.04, for a total transaction of $64,797.56. Following the completion of the sale, the chief technology officer now owns 867,531 shares in the company, valued at $3,504,825.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, June 5th, Timothy Stonehocker sold 104,000 shares of SoundHound AI stock. The stock was sold at an average price of $5.00, for a total transaction of $520,000.00.

SoundHound AI Trading Down 0.5 %

Shares of NASDAQ:SOUN opened at $3.98 on Tuesday. SoundHound AI, Inc. has a 12 month low of $1.49 and a 12 month high of $10.25. The company has a quick ratio of 8.84, a current ratio of 8.84 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $4.63 and its 200 day simple moving average is $4.05. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -10.47 and a beta of 2.87.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The business had revenue of $11.59 million for the quarter, compared to analyst estimates of $10.10 million. During the same period last year, the business posted ($0.12) earnings per share. The firm’s quarterly revenue was up 72.9% on a year-over-year basis. As a group, research analysts forecast that SoundHound AI, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC acquired a new stake in SoundHound AI in the 1st quarter valued at $29,000. DecisionPoint Financial LLC acquired a new stake in SoundHound AI in the 1st quarter valued at $40,000. Newbridge Financial Services Group Inc. acquired a new stake in SoundHound AI in the 1st quarter valued at $55,000. Wesbanco Bank Inc. acquired a new stake in SoundHound AI in the 1st quarter valued at $59,000. Finally, Emerald Advisors LLC acquired a new stake in SoundHound AI in the 1st quarter valued at $59,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. DA Davidson increased their target price on shares of SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, March 15th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Monday, May 13th. Wedbush reiterated an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a report on Friday, May 10th. Northland Securities restated a “market perform” rating on shares of SoundHound AI in a report on Wednesday, February 28th. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price objective on the stock in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.88.

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.