SoundHound AI (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 18,802 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 18,802 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.46, for a total transaction of $140,262.92. Following the sale, the chief technology officer owned 502,290 shares of the company’s stock, valued at approximately $3,747,083.40. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, March 20th, Timothy Stonehocker sold 23,087 shares of SoundHound AI stock. The shares were sold at an average price of $6.79, for a total transaction of $156,760.73.

SoundHound AI Stock Down 1.0%

SOUN traded down $0.07 during mid-day trading on Wednesday, reaching $6.96. 19,183,094 shares of the company traded hands, compared to its average volume of 25,995,096. The stock has a market capitalization of $3.01 billion, a P/E ratio of -14.81 and a beta of 2.56. The company’s fifty day moving average price is $7.94 and its 200-day moving average price is $8.81. SoundHound AI, Inc. has a 52-week low of $5.83 and a 52-week 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 company had revenue of $44.20 million for the quarter, compared to analysts’ expectations of $42.56 million. SoundHound AI had a negative net margin of 91.84% and a negative return on equity of 40.15%. SoundHound AI’s quarterly revenue was up 51.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. As a group, sell-side analysts forecast that SoundHound AI, Inc. will post -0.45 earnings per share for the current fiscal year.

More 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.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On SoundHound AI

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EP Wealth Advisors LLC increased its stake in shares of 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. increased its stake in shares of 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. Insigneo Advisory Services LLC increased its stake in shares of SoundHound AI by 7.4% in 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 in the last quarter. Clear Creek Financial Management LLC increased its stake in shares of SoundHound AI by 1.6% in the 4th quarter. Clear Creek Financial Management LLC now owns 58,091 shares of the company’s stock worth $579,000 after purchasing an additional 941 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of SoundHound AI by 15.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,127 shares of the company’s stock worth $115,000 after purchasing an additional 956 shares in the last quarter. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

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.