Timothy Stonehocker Sells 70,524 Shares of SoundHound AI (NASDAQ:SOUN) Stock

Key Points

• Timothy Stonehocker, CTO of SoundHound AI, sold 70,524 shares of the company's stock at an average price of $20.00, totaling approximately $1.41 million, which reduced his holdings by 10.42%.
• SoundHound AI reported a negative EPS of ($0.19) for the last quarter, missing estimates, despite revenue growth of 216.3% compared to a year ago.
• Recent trading activity has increased interest in SoundHound AI, with institutional investors increasing their holdings, demonstrating growing confidence in the company.

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CTO Timothy Stonehocker sold 70,524 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction of $1,410,480.00. Following the completion of the sale, the chief technology officer owned 606,525 shares of the company's stock, valued at approximately $12,130,500. This represents a 10.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, September 24th, Timothy Stonehocker sold 2,247 shares of SoundHound AI stock. The shares were sold at an average price of $17.90, for a total transaction of $40,221.30.
• 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 transaction of $601,120.00.

SoundHound AI Price Performance

SOUN stock traded down $1.22 during trading hours on Friday, reaching $17.36. The stock had a trading volume of 56,633,458 shares, compared to its average volume of 46,611,801. The stock has a market capitalization of $7.08 billion, a PE ratio of -27.56 and a beta of 2.60. The stock has a 50-day simple moving average of $14.66 and a 200 day simple moving average of $11.52. SoundHound AI, Inc. has a fifty-two week low of $4.74 and a fifty-two 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) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13). The firm had revenue of $42.68 million during the quarter, compared to analyst estimates of $32.88 million. SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The business's revenue was up 216.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS. SoundHound AI has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SOUN. Northwestern Mutual Wealth Management Co. lifted its position in shares of SoundHound AI by 83.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company's stock valued at $25,000 after acquiring an additional 1,060 shares during the period. Advisors Asset Management Inc. increased its stake in SoundHound AI by 68.4% during 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. Investors Research Corp increased its stake in SoundHound AI by 62.4% during the 3rd quarter. Investors Research Corp now owns 1,822 shares of the company's stock valued at $29,000 after purchasing an additional 700 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of SoundHound AI in the 1st quarter worth $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 acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company's stock.

Analysts Set New Price Targets

SOUN has been the subject of a number of research reports. Oppenheimer started coverage on shares of SoundHound AI in a research note on Thursday, September 11th. They set a "market perform" rating for the company. HC Wainwright reissued a "buy" rating and issued a $18.00 target price on shares of SoundHound AI in a report on Wednesday, September 17th. Wedbush reissued an "outperform" rating and issued a $16.00 target price on shares of SoundHound AI in a report on Thursday, September 11th. DA Davidson lifted their price target on shares of SoundHound AI from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $12.00 price target on shares of SoundHound AI in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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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