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 business's stock in a transaction 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 completion of the sale, the insider now owns 637,090 shares in the company, valued at $6,370,900. This represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 stock was sold at an average price of $10.25, for a total transaction 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 transaction of $281,041.20.

SoundHound AI Price Performance

Shares of NASDAQ:SOUN traded up $0.18 during midday trading on Friday, reaching $11.19. 26,511,644 shares of the company's stock traded hands, compared to its average volume of 37,872,795. SoundHound AI, Inc. has a 1 year low of $3.82 and a 1 year high of $24.98. The company has a market cap of $4.46 billion, a P/E ratio of -31.08 and a beta of 2.71. 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 fifty day simple moving average of $9.08 and a two-hundred day simple moving average of $11.58.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SOUN shares. Cantor Fitzgerald upgraded shares of SoundHound AI to a "hold" rating in a report on Monday, February 24th. 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 research report on Monday, April 14th. Wedbush lowered their price objective on SoundHound AI from $22.00 to $15.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, HC Wainwright lowered their price objective on SoundHound AI from $26.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $10.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock valued at $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock valued at $26,000 after purchasing an additional 1,271 shares in the last quarter. Orion Capital Management LLC purchased a new position in SoundHound AI in the 4th quarter valued at $30,000. Compagnie Lombard Odier SCmA purchased a new position in SoundHound AI in the 4th quarter valued at $40,000. Finally, Golden State Wealth Management LLC purchased a new position in SoundHound AI in the 4th quarter valued at $42,000. Hedge funds and other 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.