SoundHound AI (NASDAQ:SOUN) COO Sells $484,855.24 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) COO Michael Zagorsek sold 64,994 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.46, for a total value of $484,855.24. Following the completion of the transaction, the chief operating officer owned 1,669,497 shares in the company, valued at $12,454,447.62. This represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Zagorsek also recently made the following trade(s):

• On Friday, March 20th, Michael Zagorsek sold 52,968 shares of SoundHound AI stock. The stock was sold at an average price of $6.79, for a total value of $359,652.72.

SoundHound AI Price Performance

NASDAQ SOUN traded down $0.07 during trading on Wednesday, reaching $6.96. The company’s stock had a trading volume of 19,183,094 shares, compared to its average volume of 25,995,096. The stock has a market capitalization of $3.01 billion, a PE ratio of -14.81 and a beta of 2.56. The firm has a fifty day moving average of $7.94 and a 200 day moving average of $8.81. SoundHound AI, Inc. has a one year low of $5.83 and a one year high of $22.17.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $44.20 million during the quarter, compared to the consensus estimate of $42.56 million. SoundHound AI had a negative return on equity of 40.15% and a negative net margin of 91.84%.SoundHound AI’s revenue was up 51.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share. Research analysts expect that SoundHound AI, Inc. will post -0.45 earnings per share for the current fiscal year.

Key Headlines Impacting SoundHound AI

Here are the key news stories impacting SoundHound AI this week:

• Positive Sentiment: Analysts and market commentary continue to point to SoundHound’s growth potential in conversational AI and enterprise voice solutions, with some bullish views centered on a longer-term revenue ramp.
• Neutral Sentiment: Several insider sales were disclosed, but the company stated they were for tax withholding related to vesting equity awards rather than open-market selling for discretionary reasons.
• Negative Sentiment: Multiple top executives sold shares in the same filing window, which can add pressure to sentiment and reinforce investor concern about the stock’s near-term valuation.
• Negative Sentiment: Recent coverage also emphasized that SoundHound AI trades at a premium, suggesting some investors may be questioning whether the current price fully reflects near-term execution risk.

Hedge Funds Weigh In On SoundHound AI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Danske Bank A S bought a new position in SoundHound AI during the 3rd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. grew its position 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 acquiring an additional 1,060 shares during the last quarter. Dogwood Wealth Management LLC grew its position in SoundHound AI by 152.1% during the 4th quarter. Dogwood Wealth Management LLC now owns 2,559 shares of the company’s stock worth $26,000 after acquiring an additional 1,544 shares during the last quarter. SHP Wealth Management bought a new position in SoundHound AI during the 4th quarter worth approximately $27,000. Finally, Parallel Advisors LLC grew its position in SoundHound AI by 42.8% during the 3rd quarter. Parallel Advisors LLC now owns 3,204 shares of the company’s stock worth $52,000 after acquiring an additional 960 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundHound AI in a research report on Monday. HC Wainwright reduced their price objective on SoundHound AI from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down from $11.00) on shares of SoundHound AI in a research report on Friday, February 27th. DA Davidson reiterated a “buy” rating and set a $14.00 price objective on shares of SoundHound AI in a research report on Wednesday, April 22nd. Finally, LADENBURG THALM/SH SH upgraded SoundHound AI to a “strong-buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.93.

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.