SoundHound AI, Inc. (NASDAQ:SOUN) VP Sells $744,400.80 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) VP Majid Emami sold 79,530 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $9.36, for a total value of $744,400.80. Following the transaction, the vice president now owns 537,952 shares in the company, valued at approximately $5,035,230.72. This trade represents a 12.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, June 24th, Majid Emami sold 60,295 shares of SoundHound AI stock. The stock was sold at an average price of $10.00, for a total transaction of $602,950.00.
• On Tuesday, June 10th, Majid Emami sold 132,352 shares of SoundHound AI stock. The stock was sold at an average price of $10.04, for a total transaction of $1,328,814.08.

SoundHound AI Price Performance

SOUN stock traded down $0.25 during trading on Wednesday, reaching $9.57. 33,550,962 shares of the company were exchanged, compared to its average volume of 39,309,932. SoundHound AI, Inc. has a twelve month low of $3.82 and a twelve month high of $24.98. The company has a 50-day moving average of $9.64 and a two-hundred day moving average of $11.94.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. SoundHound AI had a negative return on equity of 68.55% and a negative net margin of 184.34%. The business had revenue of $29.13 million for the quarter, compared to analyst estimates of $30.38 million. During the same quarter in the previous year, the company posted ($0.07) EPS. SoundHound AI's quarterly revenue was up 151.2% compared to the same quarter last year. Research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after purchasing an additional 830 shares during the last quarter. Rhumbline Advisers increased its position in SoundHound AI by 10.5% during the 4th quarter. Rhumbline Advisers now owns 419,676 shares of the company's stock valued at $8,326,000 after purchasing an additional 39,795 shares during the period. Sanctuary Advisors LLC increased its position in SoundHound AI by 48.8% during the 4th quarter. Sanctuary Advisors LLC now owns 44,618 shares of the company's stock valued at $885,000 after purchasing an additional 14,642 shares during the period. New York State Common Retirement Fund raised its holdings in SoundHound AI by 11.4% during the 4th quarter. New York State Common Retirement Fund now owns 90,962 shares of the company's stock worth $1,805,000 after purchasing an additional 9,300 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in shares of SoundHound AI by 26.6% in the 4th quarter. Sigma Planning Corp now owns 27,398 shares of the company's stock worth $544,000 after purchasing an additional 5,758 shares during the period. 19.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on SOUN shares. HC Wainwright cut their price target on shares of SoundHound AI from $26.00 to $18.00 and set a "buy" rating for the company in a report on Monday, May 12th. Piper Sandler began coverage on shares of SoundHound AI in a research report on Tuesday, May 27th. They set an "overweight" rating and a $12.00 price objective for the company. Wedbush cut their target price on SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, DA Davidson reduced their target price on SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, SoundHound AI presently has a consensus rating of "Moderate Buy" and an average target price of $10.50.

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.