SoundHound AI (NASDAQ:SOUN) VP Majid Emami Sells 41,167 Shares

Key Points

• Majid Emami, VP of SoundHound AI, sold 41,167 shares on October 8th for approximately $823,340, resulting in a 6.34% decrease in his ownership of the stock.
• SoundHound AI reported a quarterly loss of ($0.19) EPS, missing analyst estimates, but the company's revenue grew 216.3% year-over-year to $42.68 million.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" on SoundHound AI, with a price target averaging $14.36.

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) VP Majid Emami sold 41,167 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total transaction of $823,340.00. Following the sale, the vice president directly owned 608,186 shares in the company, valued at $12,163,720. This trade represents a 6.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, September 24th, Majid Emami sold 36,185 shares of SoundHound AI stock. The stock was sold at an average price of $17.86, for a total transaction of $646,264.10.
• On Monday, September 22nd, Majid Emami sold 42,119 shares of SoundHound AI stock. The stock was sold at an average price of $16.00, for a total transaction of $673,904.00.

SoundHound AI Stock Performance

Shares of SoundHound AI stock traded down $1.22 during trading on Friday, hitting $17.36. 56,633,458 shares of the stock were exchanged, compared to its average volume of 46,611,801. SoundHound AI, Inc. has a 12 month low of $4.74 and a 12 month high of $24.98. The stock's fifty day moving average is $14.66 and its 200 day moving average is $11.52. The stock has a market cap of $7.08 billion, a PE ratio of -27.56 and a beta of 2.60.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SOUN. DA Davidson increased their price objective on shares of SoundHound AI from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Oppenheimer began coverage on shares of SoundHound AI in a report on Thursday, September 11th. They issued a "market perform" rating on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of SoundHound AI in a report on Wednesday, September 17th. Northland Capmk raised shares of SoundHound AI from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen lowered shares of SoundHound AI from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $14.36.

Hedge Funds Weigh In On SoundHound AI

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of SoundHound AI by 83.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company's stock worth $25,000 after purchasing an additional 1,060 shares during the last quarter. Advisors Asset Management Inc. grew 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 worth $27,000 after purchasing an additional 1,023 shares during the last quarter. Investors Research Corp grew its stake in shares of SoundHound AI by 62.4% in the 3rd quarter. Investors Research Corp now owns 1,822 shares of the company's stock worth $29,000 after purchasing an additional 700 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of SoundHound AI in the 1st quarter worth approximately $32,000. Finally, Huntington National Bank grew its stake in shares of SoundHound AI by 48.8% in the 2nd quarter. Huntington National Bank now owns 3,050 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds 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.

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