SoundHound AI, Inc. (NASDAQ:SOUN) Insider James Ming Hom Sells 3,815 Shares

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) insider James Ming Hom sold 3,815 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $10.00, for a total transaction of $38,150.00. Following the transaction, the insider now owns 637,090 shares in the company, valued at approximately $6,370,900. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, March 24th, James Ming Hom sold 51,196 shares of SoundHound AI stock. The shares were sold at an average price of $10.25, for a total value of $524,759.00.
• On Thursday, March 20th, James Ming Hom sold 28,388 shares of SoundHound AI stock. The stock was sold at an average price of $9.90, for a total value of $281,041.20.

SoundHound AI Price Performance

Shares of SOUN stock traded up $0.50 during mid-day trading on Wednesday, reaching $11.76. The stock had a trading volume of 60,129,265 shares, compared to its average volume of 37,802,915. The company has a market cap of $4.69 billion, a P/E ratio of -32.67 and a beta of 2.71. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 12-month low of $3.82 and a 12-month high of $24.98. The business has a 50-day simple moving average of $8.94 and a 200 day simple moving average of $11.42.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The firm had revenue of $29.13 million during the quarter, compared to the consensus estimate of $30.38 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm's revenue for the quarter was up 151.2% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. On average, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SOUN. Blue Trust Inc. grew its holdings in SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock valued at $25,000 after buying an additional 830 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock worth $26,000 after acquiring an additional 1,271 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of SoundHound AI in the fourth quarter valued at $30,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of SoundHound AI during the fourth quarter valued at $40,000. Finally, Golden State Wealth Management LLC purchased a new stake in SoundHound AI during the 4th quarter worth about $42,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SOUN has been the topic of several recent research reports. Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a research note on Monday, February 24th. HC Wainwright dropped their price target on shares of SoundHound AI from $26.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday. Wedbush cut their price target on shares of SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, May 9th. DA Davidson lowered their price objective on SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $10.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.