SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 3,333 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 3,333 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $33,596.64. Following the completion of the sale, the chief technology officer now owns 765,534 shares in the company, valued at $7,716,582.72. This represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 Trading Up 4.6 %

NASDAQ:SOUN traded up $0.45 during trading hours on Monday, reaching $10.31. 26,353,351 shares of the company were exchanged, compared to its average volume of 38,602,530. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98. The stock has a 50 day simple moving average of $12.19 and a 200 day simple moving average of $10.44. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -28.64 and a beta of 2.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). The firm had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. As a group, analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SOUN. Northland Securities upped their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a report on Monday, March 3rd. DA Davidson boosted their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Wedbush raised their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, Cantor Fitzgerald upgraded SoundHound AI to a “hold” rating in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, SoundHound AI presently has a consensus rating of “Hold” and an average price target of $12.86.

Institutional Investors Weigh In On SoundHound AI

Several large investors have recently made changes to their positions in SOUN. Kieckhefer Group LLC purchased a new stake in SoundHound AI during the 4th quarter worth $3,432,000. Charles Schwab Investment Management Inc. lifted its stake in shares of SoundHound AI by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after purchasing an additional 189,109 shares in the last quarter. Oriental Harbor Investment Fund purchased a new stake in shares of SoundHound AI in the fourth quarter worth about $8,964,000. Geode Capital Management LLC raised its holdings in shares of SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after buying an additional 602,311 shares during the period. Finally, Wealth Effects LLC acquired a new position in SoundHound AI during the 4th quarter worth approximately $357,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

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.