SoundHound AI (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 31,329 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 31,329 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $11.28, for a total value of $353,391.12. Following the completion of the sale, the chief technology officer directly owned 575,976 shares of the company’s stock, valued at $6,497,009.28. The trade was a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Timothy Stonehocker also recently made the following trade(s):

• On Wednesday, December 24th, Timothy Stonehocker sold 2,121 shares of SoundHound AI stock. The stock was sold at an average price of $10.97, for a total value of $23,267.37.
• On Wednesday, October 8th, Timothy Stonehocker sold 70,524 shares of SoundHound AI stock. The shares were sold at an average price of $20.00, for a total value of $1,410,480.00.

SoundHound AI Price Performance

NASDAQ SOUN traded down $0.29 during trading on Monday, hitting $10.41. The company’s stock had a trading volume of 20,984,708 shares, compared to its average volume of 43,209,066. SoundHound AI, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $23.50. The company has a market cap of $4.37 billion, a PE ratio of -12.39 and a beta of 2.63. The business’s 50 day simple moving average is $13.38 and its 200-day simple moving average is $13.46.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.06. The firm had revenue of $42.05 million for the quarter, compared to the consensus estimate of $40.48 million. SoundHound AI had a negative net margin of 211.16% and a negative return on equity of 93.64%. The company’s revenue for the quarter was up 67.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SOUN shares. Wedbush reiterated an “outperform” rating and set a $16.00 price objective on shares of SoundHound AI in a research note on Thursday, September 11th. Oppenheimer began coverage on SoundHound AI in a research report on Thursday, September 11th. They set a “market perform” rating for the company. DA Davidson reiterated a “buy” rating and set a $17.00 price target on shares of SoundHound AI in a research note on Tuesday, November 18th. HC Wainwright raised their price objective on SoundHound AI from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SoundHound AI in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.07.

Hedge Funds Weigh In On SoundHound AI

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC boosted its stake in shares of SoundHound AI by 37.3% in the third quarter. Sound Income Strategies LLC now owns 2,116 shares of the company’s stock worth $34,000 after buying an additional 575 shares during the last quarter. Investors Research Corp lifted its holdings in SoundHound AI by 62.4% in the third quarter. Investors Research Corp now owns 1,822 shares of the company’s stock valued at $29,000 after acquiring an additional 700 shares during the period. EP Wealth Advisors LLC boosted its position in SoundHound AI by 5.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 14,100 shares of the company’s stock worth $151,000 after purchasing an additional 706 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in SoundHound AI by 2.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 31,880 shares of the company’s stock worth $513,000 after purchasing an additional 830 shares in the last quarter. Finally, Insigneo Advisory Services LLC grew its stake in shares of SoundHound AI by 7.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 12,416 shares of the company’s stock worth $200,000 after purchasing an additional 858 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

About SoundHound AI

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.