SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami Sells 132,352 Shares

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) VP Majid Emami sold 132,352 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $10.04, for a total value of $1,328,814.08. Following the transaction, the vice president now owns 537,482 shares in the company, valued at $5,396,319.28. This trade represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, March 20th, Majid Emami sold 28,392 shares of SoundHound AI stock. The shares were sold at an average price of $9.90, for a total transaction of $281,080.80.

SoundHound AI Stock Performance

Shares of SOUN traded down $0.38 during mid-day trading on Friday, hitting $9.10. The company's stock had a trading volume of 19,444,064 shares, compared to its average volume of 38,733,348. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a one year low of $3.82 and a one year high of $24.98. The stock's 50-day moving average is $9.42 and its two-hundred day moving average is $11.95. The firm has a market capitalization of $3.65 billion, a PE ratio of -25.25 and a beta of 2.64.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $29.13 million for 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%. During the same quarter in the previous year, the company earned ($0.07) EPS. The firm's revenue for the quarter was up 151.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Trading of SoundHound AI

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of SoundHound AI by 35.6% in the 4th quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company's stock valued at $635,508,000 after acquiring an additional 8,402,881 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of SoundHound AI by 84.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,973,728 shares of the company's stock valued at $40,390,000 after buying an additional 2,274,105 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in SoundHound AI during the fourth quarter worth $41,595,000. Invesco Ltd. lifted its stake in SoundHound AI by 1,386.2% in the fourth quarter. Invesco Ltd. now owns 1,382,371 shares of the company's stock valued at $27,426,000 after acquiring an additional 1,289,360 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of SoundHound AI by 69.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company's stock worth $21,434,000 after purchasing an additional 1,085,473 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company's stock.

Analysts Set New Price Targets

SOUN has been the topic of a number of recent analyst reports. Wedbush lowered their price target on shares of SoundHound AI from $22.00 to $15.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. HC Wainwright lowered their price objective on shares of SoundHound AI from $26.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Piper Sandler began coverage on SoundHound AI in a report on Tuesday, May 27th. They issued an "overweight" rating and a $12.00 price target for the company. Finally, DA Davidson dropped their target price on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SoundHound AI has a consensus rating of "Moderate Buy" and a consensus target price of $10.50.

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.