SoundHound AI (NASDAQ:SOUN) Insider James Ming Hom Sells 42,119 Shares

Key Points

• Insider James Ming Hom sold 42,119 shares of SoundHound AI on September 22nd for approximately $673,904, reducing his ownership by 4.75% to 845,441 shares.
• SoundHound AI reported ($0.19) earnings per share, missing estimates, but experienced a 216.3% year-over-year revenue increase to $42.68 million.
• The company's stock traded down 1.5% to $17.78, amidst varied analyst recommendations while maintaining a market capitalization of $7.25 billion.

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) insider James Ming Hom sold 42,119 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $16.00, for a total transaction of $673,904.00. Following the sale, the insider directly owned 845,441 shares of the company's stock, valued at $13,527,056. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SoundHound AI Stock Down 1.5%

Shares of NASDAQ SOUN traded down $0.27 during trading on Wednesday, hitting $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 1 year low of $4.45 and a 1 year high of $24.98. The company has a 50-day moving average price of $13.28 and a 200-day moving average price of $10.89. The firm has a market capitalization of $7.25 billion, a P/E ratio of -28.22 and a beta of 2.58.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $42.68 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 216.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. Research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Trading of SoundHound AI

A number of hedge funds have recently made changes to their positions in SOUN. Northwestern Mutual Wealth Management Co. grew its position in shares of SoundHound AI by 83.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company's stock worth $25,000 after buying an additional 1,060 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of SoundHound AI by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company's stock valued at $27,000 after purchasing an additional 1,023 shares in the last quarter. AlphaQuest LLC acquired a new stake in SoundHound AI during the first quarter valued at approximately $32,000. Huntington National Bank raised its stake in SoundHound AI by 48.8% during the second quarter. Huntington National Bank now owns 3,050 shares of the company's stock valued at $33,000 after buying an additional 1,000 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in SoundHound AI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock valued at $34,000 after buying an additional 2,115 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wedbush reissued an "outperform" rating and issued a $16.00 price objective on shares of SoundHound AI in a research report on Thursday, September 11th. Piper Sandler reissued a "neutral" rating and issued a $12.00 price objective on shares of SoundHound AI in a research report on Monday, July 14th. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of SoundHound AI in a research report on Wednesday, September 17th. Wall Street Zen lowered SoundHound AI from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, DA Davidson raised their price objective on SoundHound AI from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.36.

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.

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