Insider Selling: SoundHound AI, Inc. (NASDAQ:SOUN) Insider Sells 53,891 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 53,891 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $10.00, for a total value of $538,910.00. Following the completion of the sale, the insider now owns 813,193 shares of the company’s stock, valued at $8,131,930. This trade represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

James Ming Hom also recently made the following trade(s):

• On Friday, September 20th, James Ming Hom sold 21,024 shares of SoundHound AI stock. The stock was sold at an average price of $4.88, for a total value of $102,597.12.

SoundHound AI Stock Performance

NASDAQ SOUN opened at $15.01 on Monday. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $15.10. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of -41.69 and a beta of 3.03. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm’s 50 day simple moving average is $6.47 and its 200 day simple moving average is $5.35.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same quarter last year, the business posted ($0.09) EPS. The company’s revenue was up 88.7% compared to the same quarter last year. As a group, research analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOUN. Price T Rowe Associates Inc. MD lifted its holdings in shares of SoundHound AI by 124.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,112 shares of the company’s stock worth $431,000 after acquiring an additional 40,495 shares during the last quarter. Cetera Advisors LLC acquired a new position in SoundHound AI during the 1st quarter worth approximately $327,000. SG Americas Securities LLC lifted its stake in SoundHound AI by 1,039.3% in the 2nd quarter. SG Americas Securities LLC now owns 213,775 shares of the company’s stock valued at $844,000 after purchasing an additional 195,011 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in SoundHound AI by 13.7% in the second quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock valued at $82,000 after buying an additional 2,500 shares in the last quarter. Finally, Kessler Investment Group LLC grew its stake in shares of SoundHound AI by 42.5% during the second quarter. Kessler Investment Group LLC now owns 33,812 shares of the company’s stock worth $134,000 after buying an additional 10,079 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

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.