SoundHound AI (NASDAQ:SOUN) Insider Sells $673,904.00 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 42,119 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $673,904.00. Following the sale, the insider owned 845,441 shares in the company, valued at $13,527,056. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SoundHound AI Stock Down 8.0%

NASDAQ:SOUN opened at $16.35 on Friday. SoundHound AI, Inc. has a twelve month low of $4.45 and a twelve month high of $24.98. The stock’s 50-day simple moving average is $13.48 and its 200 day simple moving average is $10.99. The firm has a market capitalization of $6.67 billion, a PE ratio of -25.95 and a beta of 2.58.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.13). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The firm had revenue of $42.68 million for the quarter, compared to analyst estimates of $32.88 million. During the same period last year, the business earned ($0.11) EPS. The company’s revenue was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. On average, analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SOUN has been the topic of a number of recent analyst reports. DA Davidson boosted their price objective on SoundHound AI from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Wall Street Zen lowered shares of SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. LADENBURG THALM/SH SH raised shares of SoundHound AI from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $16.00 in a research note on Monday, August 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price target on shares of SoundHound AI in a research note on Monday, July 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of SoundHound AI in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.36.

Institutional Trading of SoundHound AI

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of SoundHound AI by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock worth $284,687,000 after purchasing an additional 3,028,281 shares during the period. Geode Capital Management LLC raised its stake in shares of SoundHound AI by 8.3% in the second quarter. Geode Capital Management LLC now owns 8,830,144 shares of the company’s stock valued at $94,759,000 after buying an additional 679,436 shares during the period. State Street Corp grew its stake in shares of SoundHound AI by 9.1% during the 2nd quarter. State Street Corp now owns 8,476,348 shares of the company’s stock worth $90,951,000 after acquiring an additional 708,369 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in SoundHound AI by 1.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,024,632 shares of the company’s stock valued at $53,906,000 after acquiring an additional 50,904 shares during the period. Finally, Northern Trust Corp lifted its holdings in SoundHound AI by 2.5% during the first quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock valued at $24,190,000 after purchasing an additional 72,766 shares during the last quarter. Hedge funds and other institutional investors 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.