James Ming Hom Sells 36,771 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 36,771 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $746,451.30. Following the sale, the insider now owns 718,040 shares in the company, valued at approximately $14,576,212. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, December 16th, James Ming Hom sold 58,382 shares of SoundHound AI stock. The stock was sold at an average price of $18.35, for a total value of $1,071,309.70.
• On Wednesday, December 4th, James Ming Hom sold 53,891 shares of SoundHound AI stock. The shares were sold at an average price of $10.00, for a total value of $538,910.00.

SoundHound AI Trading Up 19.7 %

Shares of SOUN stock traded up $3.99 during trading hours on Thursday, reaching $24.23. The company had a trading volume of 129,107,203 shares, compared to its average volume of 41,064,262. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -67.31 and a beta of 3.03. The company has a 50 day moving average of $9.91 and a 200 day moving average of $6.54.

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

Institutional Investors Weigh In On SoundHound AI

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of SoundHound AI by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock valued at $12,033,000 after buying an additional 189,109 shares in the last quarter. Carnegie Investment Counsel bought a new stake in shares of SoundHound AI in the third quarter worth about $4,193,000. FMR LLC raised its position in shares of SoundHound AI by 112.8% during the third quarter. FMR LLC now owns 49,038 shares of the company’s stock worth $229,000 after purchasing an additional 25,989 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after purchasing an additional 602,311 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of SoundHound AI during the 3rd quarter valued at about $305,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on SOUN shares. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush raised their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. HC Wainwright boosted their price objective on shares of SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday. DA Davidson reiterated a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. Finally, Barclays restated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.07.

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.