SoundHound AI, Inc. (NASDAQ:SOUN) VP Sells $760,417.70 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) VP Majid Emami sold 37,459 shares of SoundHound AI stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $760,417.70. Following the completion of the sale, the vice president now directly owns 698,226 shares in the company, valued at $14,173,987.80. This trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, December 6th, Majid Emami sold 368,662 shares of SoundHound AI stock. The shares were sold at an average price of $15.00, for a total value of $5,529,930.00.
• 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 value of $4,483,213.44.
• On Monday, December 2nd, Majid Emami sold 94,067 shares of SoundHound AI stock. The shares were sold at an average price of $9.05, for a total transaction of $851,306.35.

SoundHound AI Stock Up 19.7 %

Shares of NASDAQ:SOUN traded up $3.99 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. 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 has a market capitalization of $8.96 billion, a PE ratio of -67.31 and a beta of 3.03. SoundHound AI, Inc. has a 52-week low of $1.62 and a 52-week high of $24.98. The firm's 50 day simple moving average is $10.29 and its 200-day simple moving average is $6.67.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $25.10 million during 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 firm's revenue was up 88.7% on a year-over-year basis. As a group, analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOUN has been the subject of a number of research analyst reports. Barclays reiterated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush lifted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. LADENBURG THALM/SH SH reissued a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright lifted their target price on SoundHound AI from $8.00 to $26.00 and gave the company a "buy" rating in a research report on Monday. Finally, 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.07.

Institutional Investors Weigh In On SoundHound AI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. purchased a new position in SoundHound AI in the third quarter worth $177,000. Sanctuary Advisors LLC grew its stake in SoundHound AI by 13.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,976 shares of the company's stock worth $140,000 after buying an additional 3,642 shares during the last quarter. Geode Capital Management LLC grew its stake in SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company's stock worth $33,529,000 after buying an additional 602,311 shares during the last quarter. MML Investors Services LLC acquired a new position in SoundHound AI during the 3rd quarter valued at about $86,000. Finally, State Street Corp raised its stake in SoundHound AI by 0.6% in the third quarter. State Street Corp now owns 7,197,414 shares of the company's stock valued at $33,540,000 after buying an additional 42,869 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company's stock.

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.