SoundHound AI (NASDAQ:SOUN) SVP Sells $215,168.78 in Stock

SoundHound AI, Inc. (NASDAQ:SOUNGet Free Report) SVP Majid Emami sold 28,843 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.46, for a total value of $215,168.78. Following the transaction, the senior vice president directly owned 472,983 shares in the company, valued at $3,528,453.18. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

  • On Friday, March 20th, Majid Emami sold 31,019 shares of SoundHound AI stock. The stock was sold at an average price of $6.79, for a total value of $210,619.01.

SoundHound AI Price Performance

Shares of NASDAQ:SOUN opened at $7.12 on Friday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -15.15 and a beta of 2.56. The company has a 50 day moving average of $7.95 and a two-hundred day moving average of $8.77. SoundHound AI, Inc. has a 52-week low of $5.83 and a 52-week high of $22.17.

SoundHound AI (NASDAQ:SOUNGet Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $44.20 million for the quarter, compared to analyst estimates of $42.56 million. SoundHound AI had a negative return on equity of 40.15% and a negative net margin of 91.84%.The company’s revenue for the quarter was up 51.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. On average, equities analysts anticipate that SoundHound AI, Inc. will post -0.45 earnings per share for the current year.

Key SoundHound AI News

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

Institutional Trading of SoundHound AI

Institutional investors have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC raised its holdings in shares of SoundHound AI by 5.3% during the second quarter. EP Wealth Advisors LLC now owns 14,100 shares of the company’s stock worth $151,000 after purchasing an additional 706 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of SoundHound AI by 2.7% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 31,880 shares of the company’s stock valued at $513,000 after buying an additional 830 shares during the last quarter. Insigneo Advisory Services LLC raised its stake in SoundHound AI by 7.4% during the third quarter. Insigneo Advisory Services LLC now owns 12,416 shares of the company’s stock worth $200,000 after acquiring an additional 858 shares during the period. Clear Creek Financial Management LLC raised its stake in SoundHound AI by 1.6% during the fourth quarter. Clear Creek Financial Management LLC now owns 58,091 shares of the company’s stock worth $579,000 after acquiring an additional 941 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in SoundHound AI by 15.5% in the third quarter. PNC Financial Services Group Inc. now owns 7,127 shares of the company’s stock worth $115,000 after acquiring an additional 956 shares during the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Read Our Latest Research Report on SOUN

SoundHound AI Company Profile

(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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Insider Buying and Selling by Quarter for SoundHound AI (NASDAQ:SOUN)

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