SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 27,714 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 27,714 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $274,368.60. Following the completion of the transaction, the chief technology officer now owns 768,867 shares of the company’s stock, valued at $7,611,783.30. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, March 24th, Timothy Stonehocker sold 3,333 shares of SoundHound AI stock. The stock was sold at an average price of $10.08, for a total transaction of $33,596.64.

SoundHound AI Trading Down 1.1 %

Shares of SOUN stock opened at $10.20 on Wednesday. SoundHound AI, Inc. has a 1 year low of $3.50 and a 1 year high of $24.98. The company’s fifty day simple moving average is $12.09 and its two-hundred day simple moving average is $10.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -28.33 and a beta of 2.62.

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

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after acquiring an additional 830 shares during the period. Sound Income Strategies LLC grew its position in shares of SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 1,271 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of SoundHound AI in the fourth quarter worth $30,000. Future Financial Wealth Managment LLC purchased a new stake in shares of SoundHound AI in the fourth quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in SoundHound AI during the fourth quarter valued at $40,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.