SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 20,337 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 20,337 shares of SoundHound AI stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $99,244.56. Following the completion of the sale, the chief technology officer now owns 1,039,194 shares in the company, valued at $5,071,266.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, July 11th, Timothy Stonehocker sold 208,000 shares of SoundHound AI stock. The shares were sold at an average price of $5.75, for a total transaction of $1,196,000.00.

SoundHound AI Trading Up 0.4 %

NASDAQ:SOUN traded up $0.02 during mid-day trading on Tuesday, reaching $4.90. 11,923,487 shares of the stock were exchanged, compared to its average volume of 36,062,578. The business has a fifty day moving average price of $4.87 and a 200 day moving average price of $4.98. SoundHound AI, Inc. has a 1-year low of $1.49 and a 1-year high of $10.25. The firm has a market capitalization of $1.61 billion, a PE ratio of -12.66 and a beta of 2.74.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The business had revenue of $13.46 million during the quarter, compared to analyst estimates of $13.09 million. During the same period in the prior year, the firm earned ($0.10) EPS. The business’s revenue for the quarter was up 53.8% on a year-over-year basis. On average, sell-side analysts forecast that SoundHound AI, Inc. will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its holdings in shares of SoundHound AI by 17.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 13,561 shares of the company’s stock worth $80,000 after acquiring an additional 2,000 shares during the last quarter. Genesee Capital Advisors LLC increased its position in shares of SoundHound AI by 11.4% in the second quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock worth $77,000 after acquiring an additional 2,000 shares in the last quarter. Signaturefd LLC raised its holdings in shares of SoundHound AI by 27.3% during the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $41,000 after acquiring an additional 2,200 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of SoundHound AI by 24.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock valued at $46,000 after acquiring an additional 2,320 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in SoundHound AI by 13.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock worth $82,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SOUN shares. Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.00 to $7.00 in a research report on Friday, August 9th. Northland Securities raised their price target on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, September 18th. Finally, Wedbush reissued an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.08.

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.