James Ming Hom Sells 38,730 Shares of SoundHound AI (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Hom sold 38,730 shares of SoundHound AI stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $6.33, for a total value of $245,160.90. Following the sale, the insider directly owned 1,105,555 shares of the company’s stock, valued at approximately $6,998,163.15. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SoundHound AI Price Performance

SOUN opened at $5.93 on Friday. The business has a fifty day simple moving average of $6.68 and a 200 day simple moving average of $7.21. The company has a market capitalization of $2.63 billion, a PE ratio of -15.60 and a beta of 2.66. SoundHound AI, Inc. has a 1 year low of $5.65 and a 1 year high of $22.17.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.11. SoundHound AI had a negative return on equity of 30.22% and a negative net margin of 67.45%.The firm had revenue of $61.90 million for the quarter, compared to analysts’ expectations of $52.38 million. During the same quarter last year, the business earned ($0.19) EPS. The company’s quarterly revenue was up 45.0% compared to the same quarter last year. Equities analysts anticipate that SoundHound AI, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOUN. Piper Sandler dropped their price objective on shares of SoundHound AI from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. DA Davidson decreased their target price on shares of SoundHound AI from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen raised shares of SoundHound AI from a “strong sell” rating to a “sell” rating in a report on Sunday, September 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundHound AI in a research report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.00.

Trending Headlines about SoundHound AI

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

• Positive Sentiment: Analysts tracked by American Banking News have an average $13.00 price target for SoundHound AI, well above recent trading levels. The consensus suggests significant potential upside if the company executes on its growth strategy. SoundHound AI Receives $13.00 Average Price Target from Analysts
• Positive Sentiment: SoundHound’s Asia business has extended its deal momentum to five consecutive quarters, including new wins in China and India and continued expansion of its OASYS automotive platform. The progress supports the company’s international growth and automotive AI opportunity. The Zacks Analyst Blog Highlights SoundHound AI
• Positive Sentiment: SoundHound’s completed LivePerson acquisition and appointment of former LivePerson executive John Collins as CFO could improve financial integration and support a push toward sustainable profitability. The company’s recent strong second-quarter results and raised full-year guidance add to the bullish case. SoundHound AI’s LivePerson Deal and New CFO Shift Its Profitability Narrative?
• Neutral Sentiment: SoundHound is being compared with NVIDIA as a faster-growing but much smaller AI company. Its narrower voice-AI focus and continuing losses make SOUN a higher-risk growth investment despite its expansion potential. The Zacks Analyst Blog Highlights SoundHound AI
• Negative Sentiment: CEO Keyvan Mohajer, COO Michael Zagorsek, SVP Majid Emami and insider James Hom collectively sold approximately 285,863 shares at $6.33 per share. The filings identify tax withholding related to vested equity awards as the reason, reducing the bearish signal, although the insider selling may still weigh on sentiment. SoundHound AI Insider Buying and Selling

Institutional Trading of SoundHound AI

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in SoundHound AI by 25.0% during the first quarter. California State Teachers Retirement System now owns 440,023 shares of the company’s stock worth $3,023,000 after purchasing an additional 87,998 shares during the period. Geode Capital Management LLC grew its stake in SoundHound AI by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 9,180,321 shares of the company’s stock worth $91,543,000 after buying an additional 273,097 shares in the last quarter. Havemeyer Place LP bought a new position in SoundHound AI in the 4th quarter valued at about $956,000. Themes Management Co LLC increased its holdings in SoundHound AI by 86.5% in the 1st quarter. Themes Management Co LLC now owns 191,444 shares of the company’s stock valued at $1,315,000 after buying an additional 88,820 shares during the period. Finally, SG Americas Securities LLC bought a new position in SoundHound AI in the 1st quarter valued at about $1,606,000. 19.28% of the stock is owned by institutional investors and hedge funds.

About SoundHound AI

SoundHound AI, Inc develops conversational artificial intelligence and voice-enabled technologies. Its platform is designed to let users interact with devices, applications and services through natural-language speech, supporting functions such as information retrieval, question answering and task completion.

The company’s offerings include the Houndify conversational AI platform, which businesses can use to build branded voice assistants, as well as SoundHound Chat AI, an in-car and consumer-oriented voice assistant that combines conversational capabilities with access to information and services.