Majid Emami Sells 28,392 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 28,392 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $281,080.80. Following the transaction, the vice president now directly owns 669,834 shares in the company, valued at $6,631,356.60. The trade was a 4.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SoundHound AI Price Performance

Shares of NASDAQ SOUN traded up $0.45 during midday trading on Monday, reaching $10.31. The company’s stock had a trading volume of 26,353,351 shares, compared to its average volume of 38,602,530. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.62. The business’s 50 day moving average price is $12.19 and its two-hundred day moving average price is $10.44. SoundHound AI, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced 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). The company had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. On average, analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

Institutional investors and hedge funds have recently bought and sold shares of the company. Commons Capital LLC raised its position in shares of SoundHound AI by 2.7% in the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock valued at $543,000 after buying an additional 723 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in SoundHound AI by 33.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after acquiring an additional 750 shares during the last quarter. Keynote Financial Services LLC raised its position in SoundHound AI by 4.7% during the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock valued at $329,000 after purchasing an additional 752 shares in the last quarter. Blue Trust Inc. lifted its stake in SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after purchasing an additional 830 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of SoundHound AI by 16.4% in the 4th quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock valued at $131,000 after purchasing an additional 929 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

Analyst Ratings Changes

SOUN has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, March 3rd. Wedbush lifted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. DA Davidson increased their price target on shares of SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald upgraded SoundHound AI to a “hold” rating in a report on Monday, February 24th. Finally, Northland Securities increased their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, SoundHound AI presently has an average rating of “Hold” and an average 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.