SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus Sells 25,000 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus sold 25,000 shares of SoundHound AI stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $14.00, for a total value of $350,000.00. Following the sale, the director now directly owns 128,117 shares of the company’s stock, valued at $1,793,638. This represents a 16.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Lawrence Marcus also recently made the following trade(s):

• On Thursday, November 21st, Lawrence Marcus sold 30,000 shares of SoundHound AI stock. The shares were sold at an average price of $7.15, for a total transaction of $214,500.00.

SoundHound AI Trading Up 7.5 %

Shares of SOUN opened at $20.84 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a 52-week low of $1.62 and a 52-week high of $24.08. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of -57.89 and a beta of 3.03. The business’s fifty day moving average is $8.39 and its 200-day moving average is $6.00.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business’s revenue for the quarter was up 88.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. Equities analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On SoundHound AI

A number of institutional investors have recently added to or reduced their stakes in SOUN. Carnegie Investment Counsel bought a new stake in shares of SoundHound AI during the third quarter worth $4,193,000. Geode Capital Management LLC increased its holdings in SoundHound AI by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock worth $33,529,000 after purchasing an additional 602,311 shares in the last quarter. Bank of New York Mellon Corp raised its position in SoundHound AI by 92.7% in the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock valued at $3,940,000 after purchasing an additional 479,912 shares during the last quarter. Shellback Capital LP acquired a new stake in shares of SoundHound AI during the second quarter valued at about $1,196,000. Finally, Squarepoint Ops LLC grew its holdings in shares of SoundHound AI by 818.0% during the second quarter. Squarepoint Ops LLC now owns 231,168 shares of the company’s stock worth $913,000 after purchasing an additional 205,985 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SOUN shares. DA Davidson restated a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a research report on Monday, September 30th. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright lifted their price objective on SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Barclays reissued a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.