Timothy Stonehocker Sells 20,337 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 20,337 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $99,244.56. Following the transaction, the chief technology officer now owns 1,039,194 shares of the company’s stock, valued at $5,071,266.72. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Thursday, July 11th, Timothy Stonehocker sold 208,000 shares of SoundHound AI stock. The stock was sold at an average price of $5.75, for a total transaction of $1,196,000.00.

SoundHound AI Stock Performance

NASDAQ:SOUN opened at $4.89 on Thursday. The firm has a market cap of $1.61 billion, a P/E ratio of -12.87 and a beta of 2.74. SoundHound AI, Inc. has a 52 week low of $1.49 and a 52 week high of $10.25. The firm’s fifty day moving average is $4.84 and its 200-day moving average is $4.97.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Thursday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.09 million. SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The firm’s revenue was up 53.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share. As a group, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wedbush restated an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research report on Friday, August 9th. Northland Securities upped their price target on shares of SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Cantor Fitzgerald upgraded shares of SoundHound AI from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.00 to $7.00 in a research report on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.08.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SOUN. Kings Path Partners LLC bought a new position in shares of SoundHound AI in the second quarter valued at $28,000. Hexagon Capital Partners LLC bought a new position in shares of SoundHound AI in the first quarter valued at $29,000. International Assets Investment Management LLC bought a new position in shares of SoundHound AI in the second quarter valued at $31,000. HighPoint Advisor Group LLC bought a new position in shares of SoundHound AI in the fourth quarter valued at $37,000. Finally, Amalgamated Bank lifted its stake in shares of SoundHound AI by 108.0% in the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after buying an additional 5,099 shares in the last quarter. 19.28% of the stock is owned by institutional investors.

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.