Majid Emami Sells 42,119 Shares of SoundHound AI (NASDAQ:SOUN) Stock

Key Points

• Majid Emami, VP of SoundHound AI, sold 42,119 shares at an average price of $16.00, totaling $673,904, reducing his holdings by 5.79% to 685,538 shares valued at approximately $10.97 million.
• SoundHound AI reported a quarterly revenue of $42.68 million, surpassing expectations, despite missing EPS estimates with ($0.19).
• Analysts have upgraded their ratings on SoundHound AI, with projections including a $18.00 price target from HC Wainwright and a consensus rating of "Moderate Buy" for the stock.

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) VP Majid Emami sold 42,119 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $673,904.00. Following the completion of the transaction, the vice president directly owned 685,538 shares in the company, valued at $10,968,608. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, September 24th, Majid Emami sold 36,185 shares of SoundHound AI stock. The shares were sold at an average price of $17.86, for a total value of $646,264.10.

SoundHound AI Price Performance

Shares of NASDAQ SOUN traded down $0.27 during mid-day trading on Wednesday, reaching $17.78. The company's stock had a trading volume of 63,330,567 shares, compared to its average volume of 45,588,484. The stock has a fifty day moving average of $13.28 and a two-hundred day moving average of $10.89. The firm has a market capitalization of $7.25 billion, a PE ratio of -28.22 and a beta of 2.58. SoundHound AI, Inc. has a 52 week low of $4.45 and a 52 week high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The business had revenue of $42.68 million during the quarter, compared to analysts' expectations of $32.88 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The firm's revenue for the quarter was up 216.3% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. Analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Northland Capmk raised shares of SoundHound AI from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of SoundHound AI in a report on Wednesday, September 17th. DA Davidson raised their price objective on SoundHound AI from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. LADENBURG THALM/SH SH raised SoundHound AI from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $9.00 to $16.00 in a report on Monday, August 11th. Finally, Northland Securities raised SoundHound AI from a "market perform" rating to an "outperform" rating and set a $14.50 price target for the company in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $14.36.

Hedge Funds Weigh In On SoundHound AI

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its position in SoundHound AI by 83.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company's stock valued at $25,000 after purchasing an additional 1,060 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of SoundHound AI by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company's stock worth $27,000 after purchasing an additional 1,023 shares during the period. AlphaQuest LLC purchased a new position in shares of SoundHound AI in the 1st quarter worth approximately $32,000. Huntington National Bank raised its holdings in SoundHound AI by 48.8% during the 2nd quarter. Huntington National Bank now owns 3,050 shares of the company's stock valued at $33,000 after buying an additional 1,000 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in SoundHound AI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock worth $34,000 after buying an additional 2,115 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.

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