SoundHound AI (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 29,676 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 29,676 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $12.00, for a total transaction of $356,112.00. Following the sale, the chief technology officer directly owned 544,179 shares in the company, valued at $6,530,148. This represents a 5.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, December 24th, Timothy Stonehocker sold 2,121 shares of SoundHound AI stock. The stock was sold at an average price of $10.97, for a total transaction of $23,267.37.
• On Monday, December 22nd, Timothy Stonehocker sold 31,329 shares of SoundHound AI stock. The stock was sold at an average price of $11.28, for a total transaction of $353,391.12.

SoundHound AI Stock Performance

Shares of NASDAQ:SOUN traded down $0.49 during trading on Tuesday, hitting $11.08. The company’s stock had a trading volume of 30,447,129 shares, compared to its average volume of 30,086,322. SoundHound AI, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $22.17. The business has a 50 day moving average price of $11.81 and a two-hundred day moving average price of $13.56. The company has a market capitalization of $4.65 billion, a PE ratio of -13.19 and a beta of 2.65.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.06. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The business had revenue of $42.05 million for the quarter, compared to analysts’ expectations of $40.48 million. During the same period last year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 67.6% compared to the same quarter last year. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SOUN has been the subject of several analyst reports. DA Davidson set a $14.00 price target on shares of SoundHound AI in a report on Thursday, January 8th. Piper Sandler decreased their price objective on shares of SoundHound AI from $15.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. HC Wainwright increased their target price on SoundHound AI from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, October 16th. LADENBURG THALM/SH SH upgraded SoundHound AI to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SoundHound AI in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.07.

Institutional Trading of SoundHound AI

Several institutional investors and hedge funds have recently made changes to their positions in SOUN. Northwestern Mutual Wealth Management Co. grew its stake in SoundHound AI by 83.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company’s stock worth $25,000 after buying an additional 1,060 shares during the last quarter. Danske Bank A S purchased a new stake in SoundHound AI in the third quarter valued at approximately $26,000. Advisors Asset Management Inc. boosted 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 acquiring an additional 1,023 shares during the period. Investors Research Corp grew its position in shares of SoundHound AI by 62.4% during the third quarter. Investors Research Corp now owns 1,822 shares of the company’s stock worth $29,000 after acquiring an additional 700 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new position in shares of SoundHound AI during the third quarter worth approximately $32,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

SoundHound AI Company Profile

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.