James Ming Hom Sells 51,196 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 51,196 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.25, for a total value of $524,759.00. Following the completion of the sale, the insider now directly owns 638,456 shares in the company, valued at approximately $6,544,174. This represents a 7.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, March 20th, James Ming Hom sold 28,388 shares of SoundHound AI stock. The stock was sold at an average price of $9.90, for a total value of $281,041.20.

SoundHound AI Trading Down 8.0 %

NASDAQ SOUN opened at $9.38 on Thursday. The firm has a market capitalization of $3.74 billion, a PE ratio of -26.06 and a beta of 2.62. The business’s 50-day moving average price is $12.00 and its two-hundred day moving average price is $10.52. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 12 month low of $3.50 and a 12 month high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). The firm had revenue of $34.54 million for the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. On average, analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

SOUN has been the subject of a number of research reports. DA Davidson increased their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Wedbush boosted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Northland Securities increased their price target on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Finally, HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SoundHound AI currently has a consensus rating of “Hold” and an average target price of $12.86.

Hedge Funds Weigh In On SoundHound AI

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kieckhefer Group LLC bought a new position in shares of SoundHound AI in the 4th quarter worth about $3,432,000. Charles Schwab Investment Management Inc. increased its holdings in SoundHound AI by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after purchasing an additional 189,109 shares in the last quarter. Oriental Harbor Investment Fund acquired a new position in SoundHound AI in the fourth quarter valued at approximately $8,964,000. Geode Capital Management LLC boosted its holdings in shares of SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock worth $33,529,000 after buying an additional 602,311 shares in the last quarter. Finally, Wealth Effects LLC acquired a new stake in shares of SoundHound AI during the 4th quarter worth approximately $357,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

About SoundHound AI

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.