SoundHound AI (NASDAQ:SOUN) CTO Sells $40,221.30 in Stock

Key Points

• SoundHound AI's CTO Timothy Stonehocker sold 2,247 shares of the company's stock for a total of $40,221.30, reducing his ownership by 0.33%.
• The company's most recent earnings report showed a negative EPS of ($0.19) for the quarter, missing estimates but with revenue up by 216.3% year-over-year.
• SoundHound AI has a market cap of $7.25 billion and is currently trading at a stock price of $17.78, down $0.27 during recent trading sessions.

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CTO Timothy Stonehocker sold 2,247 shares of the firm's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $17.90, for a total value of $40,221.30. Following the completion of the transaction, the chief technology officer directly owned 677,049 shares in the company, valued at $12,119,177.10. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Timothy Stonehocker also recently made the following trade(s):

• On Monday, September 22nd, Timothy Stonehocker sold 37,570 shares of SoundHound AI stock. The shares were sold at an average price of $16.00, for a total value of $601,120.00.

SoundHound AI Price Performance

Shares of SOUN stock traded down $0.27 during trading hours on Wednesday, reaching $17.78. 63,330,567 shares of the company traded hands, compared to its average volume of 45,588,484. SoundHound AI, Inc. has a 12-month low of $4.45 and a 12-month high of $24.98. The company has a market cap of $7.25 billion, a P/E ratio of -28.22 and a beta of 2.58. The firm has a 50-day moving average price of $13.28 and a 200 day moving average price of $10.89.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC increased its holdings in shares of SoundHound AI by 5.3% in the second quarter. EP Wealth Advisors LLC now owns 14,100 shares of the company's stock valued at $151,000 after purchasing an additional 706 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of SoundHound AI by 4.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,073 shares of the company's stock worth $248,000 after buying an additional 880 shares during the last quarter. Apexium Financial LP boosted its stake in shares of SoundHound AI by 2.8% in the second quarter. Apexium Financial LP now owns 36,698 shares of the company's stock worth $394,000 after buying an additional 1,000 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in shares of SoundHound AI by 9.6% in the second quarter. Belpointe Asset Management LLC now owns 11,430 shares of the company's stock worth $123,000 after buying an additional 1,000 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of SoundHound AI by 48.8% in the second quarter. Huntington National Bank now owns 3,050 shares of the company's stock worth $33,000 after buying an additional 1,000 shares during the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $12.00 price objective on shares of SoundHound AI in a research note on Monday, July 14th. Wall Street Zen cut SoundHound AI from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of SoundHound AI in a report on Wednesday, September 17th. LADENBURG THALM/SH SH upgraded 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 Capmk upgraded SoundHound AI from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.36.

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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