James Ming Hom Sells 28,843 Shares of SoundHound AI (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 28,843 shares of SoundHound AI stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.46, for a total transaction of $215,168.78. Following the completion of the transaction, the insider directly owned 743,521 shares in the company, valued at approximately $5,546,666.66. The trade was a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

James Ming Hom also recently made the following trade(s):

• On Friday, March 20th, James Ming Hom sold 31,019 shares of SoundHound AI stock. The shares were sold at an average price of $6.79, for a total transaction of $210,619.01.

SoundHound AI Price Performance

SOUN traded down $0.07 during trading on Wednesday, reaching $6.96. The company had a trading volume of 19,183,094 shares, compared to its average volume of 25,995,096. SoundHound AI, Inc. has a 12 month low of $5.83 and a 12 month high of $22.17. The business’s fifty day moving average price is $7.94 and its 200 day moving average price is $8.81. The company has a market cap of $3.01 billion, a P/E ratio of -14.81 and a beta of 2.56.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly 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). SoundHound AI had a negative net margin of 91.84% and a negative return on equity of 40.15%. The company had revenue of $44.20 million during the quarter, compared to the consensus estimate of $42.56 million. During the same period in the previous year, the firm posted ($0.06) EPS. The business’s quarterly revenue was up 51.7% compared to the same quarter last year. As a group, sell-side analysts predict that SoundHound AI, Inc. will post -0.45 EPS for the current fiscal year.

Key SoundHound AI News

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.

Institutional Trading of SoundHound AI

A number of institutional investors have recently made changes to their positions in SOUN. Vanguard Group Inc. raised its position in SoundHound AI by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 45,367,437 shares of the company’s stock worth $452,313,000 after acquiring an additional 1,909,868 shares in the last quarter. Rakuten Securities Inc. raised its position in SoundHound AI by 877.9% during the fourth quarter. Rakuten Securities Inc. now owns 333,605 shares of the company’s stock worth $3,326,000 after acquiring an additional 299,492 shares in the last quarter. Clear Street Group Inc. bought a new stake in SoundHound AI during the third quarter worth $12,944,000. UBS Group AG raised its position in SoundHound AI by 77.6% during the fourth quarter. UBS Group AG now owns 6,124,283 shares of the company’s stock worth $61,059,000 after acquiring an additional 2,676,707 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in SoundHound AI by 140.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 266,576 shares of the company’s stock worth $2,826,000 after acquiring an additional 155,743 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

Analyst Ratings Changes

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