SoundHound AI (NASDAQ:SOUN) SVP Sells $480,528.00 in Stock

by · The Cerbat Gem

SoundHound AI, Inc. (NASDAQ:SOUN – Get Free Report) SVP Majid Emami sold 42,600 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $11.28, for a total value of $480,528.00. Following the sale, the senior vice president owned 565,586 shares in the company, valued at approximately $6,379,810.08. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Majid Emami also recently made the following trade(s):

  • On Friday, December 26th, Majid Emami sold 32,741 shares of SoundHound AI stock. The shares were sold at an average price of $10.66, for a total transaction of $349,019.06.
  • On Wednesday, October 8th, Majid Emami sold 41,167 shares of SoundHound AI stock. The stock was sold at an average price of $20.00, for a total transaction of $823,340.00.

SoundHound AI Stock Performance

NASDAQ SOUN traded down $0.29 on Monday, hitting $10.41. The stock had a trading volume of 20,984,708 shares, compared to its average volume of 43,209,066. The firm has a 50-day moving average of $13.38 and a 200-day moving average of $13.46. SoundHound AI, Inc. has a 52-week low of $6.52 and a 52-week high of $23.50. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -12.39 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.06. SoundHound AI had a negative net margin of 211.16% and a negative return on equity of 93.64%. The firm had revenue of $42.05 million for the quarter, compared to analysts’ expectations of $40.48 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. The business’s quarterly revenue was up 67.6% on a year-over-year basis. As a group, research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of SoundHound AI by 83.1% during the 2nd 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 last quarter. Danske Bank A S purchased a new stake in SoundHound AI during the third quarter valued at about $26,000. Advisors Asset Management Inc. grew its stake in shares of SoundHound AI by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company’s stock valued at $27,000 after buying an additional 1,023 shares during the last quarter. Investors Research Corp increased its holdings in shares of SoundHound AI by 62.4% in the third quarter. Investors Research Corp now owns 1,822 shares of the company’s stock worth $29,000 after buying an additional 700 shares during the period. Finally, AlphaQuest LLC purchased a new position in shares of SoundHound AI in the first quarter worth about $32,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

SOUN has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on SoundHound AI in a research report on Thursday, September 11th. They set a “market perform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SoundHound AI in a research note on Tuesday, October 14th. Piper Sandler boosted their price target on shares of SoundHound AI from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. HC Wainwright increased their price target on shares of SoundHound AI from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of SoundHound AI in a report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.07.

View Our Latest Stock Analysis on SOUN

About SoundHound AI

(Get Free Report)

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.

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