Timothy Stonehocker Sells 37,570 Shares of SoundHound AI (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 37,570 shares of SoundHound AI stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $601,120.00. Following the completion of the sale, the chief technology officer owned 679,296 shares of the company’s stock, valued at $10,868,736. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $17.90, for a total transaction of $40,221.30.

SoundHound AI Stock Performance

NASDAQ SOUN opened at $16.35 on Friday. The business’s fifty day moving average is $13.48 and its 200 day moving average is $10.99. The company has a market capitalization of $6.67 billion, a PE ratio of -25.95 and a beta of 2.58. SoundHound AI, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted 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). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The business had revenue of $42.68 million for the quarter, compared to the consensus estimate of $32.88 million. During the same period in the prior year, the business earned ($0.11) earnings per share. SoundHound AI’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, sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Trading of SoundHound AI

Several institutional investors have recently bought and sold shares of SOUN. Northwestern Mutual Wealth Management Co. grew its position in shares of SoundHound AI by 83.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,060 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of SoundHound AI by 68.4% in the second 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 during the last quarter. AlphaQuest LLC acquired a new stake in shares of SoundHound AI in the 1st quarter worth $32,000. Huntington National Bank raised its stake in SoundHound AI by 48.8% during the second quarter. Huntington National Bank now owns 3,050 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of SoundHound AI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company’s stock valued at $34,000 after buying an additional 2,115 shares during the period. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on SOUN. Oppenheimer assumed coverage on shares of SoundHound AI in a research report on Thursday, September 11th. They set a “market perform” rating on the stock. DA Davidson upped their target price on SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Wedbush reissued an “outperform” rating and set a $16.00 price objective on shares of SoundHound AI in a report on Thursday, September 11th. Northland Capmk upgraded SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Northland Securities raised SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a research report on Friday, August 8th. One research 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 stock. According to data from MarketBeat.com, SoundHound AI currently has an average 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.