Timothy Stonehocker Sells 44,157 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CTO Timothy Stonehocker sold 44,157 shares of SoundHound AI stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $12.00, for a total value of $529,884.00. Following the completion of the transaction, the chief technology officer now owns 723,009 shares in the company, valued at $8,676,108. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, March 24th, Timothy Stonehocker sold 3,333 shares of SoundHound AI stock. The shares were sold at an average price of $10.08, for a total value of $33,596.64.
• On Thursday, March 20th, Timothy Stonehocker sold 27,714 shares of SoundHound AI stock. The shares were sold at an average price of $9.90, for a total value of $274,368.60.

SoundHound AI Stock Performance

SoundHound AI stock traded up $0.50 during trading hours on Wednesday, hitting $11.76. 60,129,265 shares of the stock traded hands, compared to its average volume of 37,802,913. The firm's 50 day moving average price is $8.94 and its 200-day moving average price is $11.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -32.67 and a beta of 2.71. SoundHound AI, Inc. has a 1 year low of $3.82 and a 1 year high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.03. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $29.13 million for the quarter, compared to analyst estimates of $30.38 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. SoundHound AI's revenue for the quarter was up 151.2% on a year-over-year basis. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Trading of SoundHound AI

Several large investors have recently made changes to their positions in the business. Wealth Effects LLC purchased a new position in shares of SoundHound AI during the 4th quarter valued at about $357,000. Kraematon Investment Advisors Inc. acquired a new stake in SoundHound AI during the fourth quarter worth about $355,000. Mitchell Capital Management Co. purchased a new position in SoundHound AI during the fourth quarter valued at approximately $2,329,000. SG Americas Securities LLC raised its position in SoundHound AI by 70.2% during the fourth quarter. SG Americas Securities LLC now owns 195,028 shares of the company's stock valued at $3,869,000 after acquiring an additional 80,448 shares in the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in SoundHound AI in the fourth quarter valued at approximately $944,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SOUN shares. DA Davidson cut their price target on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald upgraded SoundHound AI to a "hold" rating in a research note on Monday, February 24th. Wedbush decreased their price target 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. HC Wainwright dropped their price target on SoundHound AI from $26.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Northland Securities upped their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $10.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.