Timothy Stonehocker Sells 34,407 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 34,407 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $698,462.10. Following the completion of the transaction, the chief technology officer now directly owns 796,581 shares of the company’s stock, valued at approximately $16,170,594.30. The trade was a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

SoundHound AI Price Performance

SoundHound AI stock opened at $23.95 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of -66.53 and a beta of 3.03. The firm has a 50-day moving average of $10.66 and a two-hundred day moving average of $6.80. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $24.98.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SOUN shares. Wedbush raised their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright increased their target price on shares of SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Barclays reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, DA Davidson reissued a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, SoundHound AI has an average rating of “Moderate Buy” and a consensus target price of $12.07.

Hedge Funds Weigh In On SoundHound AI

Institutional investors have recently made changes to their positions in the company. Kings Path Partners LLC purchased a new stake in SoundHound AI in the second quarter worth about $28,000. International Assets Investment Management LLC bought a new stake in shares of SoundHound AI in the 2nd quarter valued at about $31,000. NBC Securities Inc. lifted its position in shares of SoundHound AI by 97.8% in the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after purchasing an additional 3,818 shares during the period. Amalgamated Bank boosted its stake in shares of SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after purchasing an additional 5,099 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in SoundHound AI by 27.3% during the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $41,000 after buying an additional 2,200 shares during the period. 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.