SoundHound AI (NASDAQ:SOUN) VP Sells $646,264.10 in Stock

Key Points

• Majid Emami, VP of SoundHound AI, sold 36,185 shares of stock for approximately $646,264.10, reducing his ownership by 5.28% to a total of 649,353 shares.
• SoundHound AI's latest quarterly earnings showed a revenue increase of 216.3% year-over-year, although the company reported a loss of ($0.19) EPS, missing analysts' expectations.
• The stock has a market cap of $7.25 billion, with a PE ratio of -28.22, indicating a volatile trading environment compared to its 52-week range of $4.45 to $24.98.

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) VP Majid Emami sold 36,185 shares of SoundHound AI stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $17.86, for a total value of $646,264.10. Following the completion of the sale, the vice president owned 649,353 shares in the company, valued at approximately $11,597,444.58. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, September 22nd, Majid Emami sold 42,119 shares of SoundHound AI stock. The shares were sold at an average price of $16.00, for a total value of $673,904.00.

SoundHound AI Stock Performance

SOUN stock traded down $0.27 during midday trading on Wednesday, reaching $17.78. The stock had a trading volume of 63,330,567 shares, compared to its average volume of 45,588,484. The firm has a fifty day simple moving average of $13.28 and a two-hundred day simple moving average of $10.89. The stock has a market cap of $7.25 billion, a PE ratio of -28.22 and a beta of 2.58. SoundHound AI, Inc. has a 52-week low of $4.45 and a 52-week high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share (EPS) 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 business had revenue of $42.68 million for the quarter, compared to analysts' expectations of $32.88 million. During the same period last year, the firm earned ($0.11) earnings per share. The firm's quarterly revenue was up 216.3% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Trading of SoundHound AI

A number of institutional investors have recently modified their holdings of SOUN. Osaic Holdings Inc. increased its stake in SoundHound AI by 14.0% during the second quarter. Osaic Holdings Inc. now owns 498,691 shares of the company's stock worth $5,351,000 after acquiring an additional 61,212 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in SoundHound AI during the second quarter valued at $157,000. Newbridge Financial Services Group Inc. raised its holdings in SoundHound AI by 6.3% during the second quarter. Newbridge Financial Services Group Inc. now owns 31,050 shares of the company's stock valued at $333,000 after buying an additional 1,850 shares in the last quarter. Marex Group plc bought a new position in SoundHound AI during the second quarter valued at about $3,728,000. Finally, Tyler Stone Wealth Management boosted its holdings in shares of SoundHound AI by 20.7% in the 2nd quarter. Tyler Stone Wealth Management now owns 32,190 shares of the company's stock worth $345,000 after acquiring an additional 5,510 shares in the last quarter. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SOUN. Piper Sandler restated a "neutral" rating and issued a $12.00 price objective on shares of SoundHound AI in a report on Monday, July 14th. Wall Street Zen lowered shares of SoundHound AI from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wedbush reiterated an "outperform" rating and issued a $16.00 target price on shares of SoundHound AI in a research note on Thursday, September 11th. Oppenheimer started coverage on shares of SoundHound AI in a report on Thursday, September 11th. They set a "market perform" rating for the company. Finally, HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of SoundHound AI in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, SoundHound AI currently has an average 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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