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

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 44,157 shares of SoundHound AI stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $12.00, for a total transaction of $529,884.00. Following the completion of the transaction, the chief technology officer now directly owns 723,009 shares in the company, valued at approximately $8,676,108. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 transaction 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 transaction of $274,368.60.

SoundHound AI Price Performance

Shares of SOUN opened at $11.76 on Thursday. The stock has a market capitalization of $4.69 billion, a P/E ratio of -32.67 and a beta of 2.71. SoundHound AI, Inc. has a twelve month low of $3.82 and a twelve month high of $24.98. The company has a 50 day moving average of $8.98 and a 200-day moving average of $11.42. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $29.13 million during the quarter, compared to the consensus estimate of $30.38 million. During the same quarter last year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 151.2% on a year-over-year basis. As a group, equities research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SOUN has been the subject of a number of analyst reports. DA Davidson reduced their target price on shares of SoundHound AI from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Wedbush reduced their target price on shares of 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 reduced their target price on shares of SoundHound AI from $26.00 to $18.00 and set a “buy” rating for the company in a research note on Monday. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, SoundHound AI presently has an average rating of “Hold” and an average price target of $10.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOUN. SeaCrest Wealth Management LLC bought a new stake in shares of SoundHound AI during the fourth quarter worth about $944,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of SoundHound AI during the fourth quarter worth about $756,000. Carnegie Investment Counsel grew its holdings in shares of SoundHound AI by 9.1% during the fourth quarter. Carnegie Investment Counsel now owns 982,050 shares of the company’s stock worth $19,484,000 after purchasing an additional 82,300 shares during the last quarter. Kraematon Investment Advisors Inc. bought a new stake in shares of SoundHound AI during the fourth quarter worth about $355,000. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of SoundHound AI by 55.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 23,389 shares of the company’s stock worth $464,000 after purchasing an additional 8,329 shares during the last quarter. Institutional investors 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.