SoundHound AI, Inc. (NASDAQ:SOUN) VP Sells $5,529,930.00 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 368,662 shares of SoundHound AI stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $15.00, for a total transaction of $5,529,930.00. Following the sale, the vice president now owns 735,685 shares of the company’s stock, valued at approximately $11,035,275. The trade was a 33.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Majid Emami also recently made the following trade(s):

• On Monday, December 9th, Majid Emami sold 298,086 shares of SoundHound AI stock. The stock was sold at an average price of $15.04, for a total transaction of $4,483,213.44.
• On Monday, December 2nd, Majid Emami sold 94,067 shares of SoundHound AI stock. The stock was sold at an average price of $9.05, for a total value of $851,306.35.

SoundHound AI Stock Performance

Shares of SOUN opened at $13.67 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.05 billion, a P/E ratio of -37.97 and a beta of 3.03. The business’s 50 day moving average price is $7.23 and its 200-day moving average price is $5.60. SoundHound AI, Inc. has a 52 week low of $1.62 and a 52 week high of $16.07.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 88.7% compared to the same quarter last year. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of SoundHound AI

Institutional investors have recently bought and sold shares of the company. Kings Path Partners LLC bought a new position in shares of SoundHound AI in the second quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in SoundHound AI in the 2nd quarter worth approximately $31,000. NBC Securities Inc. boosted its stake in SoundHound AI by 97.8% during the 3rd 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 boosted its stake in SoundHound AI by 108.0% during the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after purchasing an additional 5,099 shares during the last quarter. Finally, Signaturefd LLC increased its holdings 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 purchasing an additional 2,200 shares in the last quarter. 19.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays reaffirmed a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright boosted their target price on SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wedbush reaffirmed an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a research note on Thursday, September 26th. DA Davidson restated a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a report on Monday, September 30th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SoundHound AI currently has an average rating of “Moderate Buy” and an average price target of $7.64.

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.