SoundHound AI, Inc. (NASDAQ:SOUN) Insider James Ming Hom Sells 16,716 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 16,716 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $4.04, for a total value of $67,532.64. Following the completion of the transaction, the insider now directly owns 486,989 shares of the company’s stock, valued at approximately $1,967,435.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SoundHound AI Trading Down 0.5 %

Shares of SOUN opened at $3.98 on Tuesday. SoundHound AI, Inc. has a fifty-two week low of $1.49 and a fifty-two week high of $10.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 8.84 and a current ratio of 8.84. The company’s fifty day moving average is $4.63 and its 200 day moving average is $4.05. The stock has a market capitalization of $1.31 billion, a PE ratio of -10.47 and a beta of 2.87.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $10.10 million. During the same period in the prior year, the company earned ($0.12) EPS. The business’s revenue was up 72.9% compared to the same quarter last year. Sell-side analysts expect that SoundHound AI, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On SoundHound AI

Several institutional investors have recently modified their holdings of SOUN. Vanguard Group Inc. raised its holdings in SoundHound AI by 16.1% during the 1st quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock valued at $94,655,000 after buying an additional 2,226,471 shares during the period. Intrinsic Edge Capital Management LLC raised its stake in shares of SoundHound AI by 47.7% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 4,848,211 shares of the company’s stock valued at $10,278,000 after acquiring an additional 1,566,238 shares during the period. Baupost Group LLC MA purchased a new stake in shares of SoundHound AI in the first quarter valued at $6,659,000. Janus Henderson Group PLC lifted its holdings in shares of SoundHound AI by 563.0% in the 1st quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock worth $2,843,000 after acquiring an additional 409,917 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of SoundHound AI by 13.9% during the 4th quarter. Swiss National Bank now owns 400,500 shares of the company’s stock worth $849,000 after purchasing an additional 49,000 shares during the period. 19.28% of the stock is owned by institutional investors.

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.