Majid Emami Sells 28,392 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 28,392 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,080.80. Following the completion of the sale, the vice president now owns 669,834 shares in the company, valued at approximately $6,631,356.60. The trade was a 4.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

SoundHound AI Trading Up 4.6 %

Shares of SOUN stock traded up $0.45 on Monday, hitting $10.31. The company had a trading volume of 26,353,351 shares, compared to its average volume of 38,602,530. SoundHound AI, Inc. has a twelve month low of $3.50 and a twelve month high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market cap of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.62. The stock’s 50-day moving average is $12.19 and its two-hundred day moving average is $10.44.

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, equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On SoundHound AI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commons Capital LLC grew its holdings in SoundHound AI by 2.7% during the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after acquiring an additional 723 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after purchasing an additional 750 shares in the last quarter. Keynote Financial Services LLC grew its stake in SoundHound AI by 4.7% during the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock worth $329,000 after purchasing an additional 752 shares during the period. Blue Trust Inc. increased its holdings in SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after purchasing an additional 830 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in SoundHound AI by 16.4% in the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock valued at $131,000 after buying an additional 929 shares during the period. 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.