SoundHound AI, Inc. (NASDAQ:SOUN) CTO Sells $274,368.60 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 27,714 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $274,368.60. Following the transaction, the chief technology officer now owns 768,867 shares in the company, valued at $7,611,783.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 24th, Timothy Stonehocker sold 3,333 shares of SoundHound AI stock. The stock was sold at an average price of $10.08, for a total transaction of $33,596.64.

SoundHound AI Trading Down 8.0 %

Shares of NASDAQ SOUN opened at $9.38 on Thursday. SoundHound AI, Inc. has a twelve month low of $3.50 and a twelve month high of $24.98. The firm has a market cap of $3.74 billion, a PE ratio of -26.06 and a beta of 2.62. The business has a fifty day simple moving average of $12.00 and a two-hundred day simple moving average of $10.52. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. Analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SoundHound AI

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in SoundHound AI by 35.6% during the fourth quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company’s stock valued at $635,508,000 after purchasing an additional 8,402,881 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of SoundHound AI during the fourth quarter valued at about $41,595,000. Invesco Ltd. boosted its holdings in shares of SoundHound AI by 1,386.2% in the 4th quarter. Invesco Ltd. now owns 1,382,371 shares of the company’s stock valued at $27,426,000 after buying an additional 1,289,360 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of SoundHound AI in the 4th quarter worth approximately $16,421,000. Finally, Capital Fund Management S.A. bought a new position in shares of SoundHound AI during the 4th quarter worth approximately $16,092,000. Institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wedbush increased their price objective 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. Cantor Fitzgerald upgraded SoundHound AI to a “hold” rating in a report on Monday, February 24th. HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a report on Monday, March 3rd. DA Davidson increased their target price on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Northland Securities lifted their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.86.

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.