SoundHound AI, Inc. (NASDAQ:SOUN) Insider James Ming Hom Sells 36,771 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 36,771 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $746,451.30. Following the sale, the insider now owns 718,040 shares in the company, valued at approximately $14,576,212. This trade represents a 4.87 % 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.

James Ming Hom also recently made the following trade(s):

• On Monday, December 16th, James Ming Hom sold 58,382 shares of SoundHound AI stock. The stock was sold at an average price of $18.35, for a total transaction of $1,071,309.70.
• On Wednesday, December 4th, James Ming Hom sold 53,891 shares of SoundHound AI stock. The shares were sold at an average price of $10.00, for a total value of $538,910.00.

SoundHound AI Stock Up 19.7 %

Shares of NASDAQ:SOUN opened at $24.23 on Friday. The firm has a 50 day simple moving average of $10.29 and a 200-day simple moving average of $6.67. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $24.98. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $8.96 billion, a PE ratio of -67.31 and a beta of 3.03.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. SoundHound AI’s revenue for the quarter was up 88.7% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS. On average, equities analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright upped their price target on SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a report on Monday. DA Davidson reaffirmed a “buy” rating and issued a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Wedbush boosted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Barclays reiterated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.07.

Institutional Trading of SoundHound AI

Large investors have recently made changes to their positions in the company. Carnegie Investment Counsel acquired a new position in SoundHound AI during the third quarter worth approximately $4,193,000. Geode Capital Management LLC increased its holdings in shares of SoundHound AI by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after acquiring an additional 602,311 shares during the period. Bank of New York Mellon Corp raised its position in SoundHound AI by 92.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock valued at $3,940,000 after purchasing an additional 479,912 shares during the last quarter. Shellback Capital LP acquired a new stake in SoundHound AI during the 2nd quarter worth $1,196,000. Finally, Squarepoint Ops LLC grew its position in SoundHound AI by 818.0% during the 2nd quarter. Squarepoint Ops LLC now owns 231,168 shares of the company’s stock worth $913,000 after purchasing an additional 205,985 shares during the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

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.