SoundHound AI, Inc. (NASDAQ:SOUN) Insider James Ming Hom Sells 36,771 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 36,771 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $746,451.30. Following the completion of the transaction, the insider now directly owns 718,040 shares of the company’s stock, valued at approximately $14,576,212. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, December 16th, James Ming Hom sold 58,382 shares of SoundHound AI stock. The shares were sold at an average price of $18.35, for a total value of $1,071,309.70.
• On Wednesday, December 4th, James Ming Hom sold 53,891 shares of SoundHound AI stock. The stock was sold at an average price of $10.00, for a total value of $538,910.00.

SoundHound AI Stock Performance

SOUN stock traded up $3.99 during trading hours on Thursday, reaching $24.23. The stock had a trading volume of 129,107,203 shares, compared to its average volume of 41,064,262. The stock has a 50-day simple moving average of $9.91 and a 200 day simple moving average of $6.54. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $24.98. The stock has a market capitalization of $8.96 billion, a PE ratio of -67.31 and a beta of 3.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kings Path Partners LLC bought a new position in SoundHound AI during the second quarter worth $28,000. International Assets Investment Management LLC bought a new stake in shares of SoundHound AI during the 2nd quarter worth about $31,000. NBC Securities Inc. grew its stake in SoundHound AI by 97.8% in the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after buying an additional 3,818 shares during the last quarter. Amalgamated Bank raised its holdings in SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after acquiring an additional 5,099 shares during the period. Finally, Signaturefd LLC lifted its position in SoundHound AI by 27.3% during the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after acquiring an additional 2,200 shares during the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SOUN has been the subject of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. HC Wainwright increased their target price on shares of SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a report on Monday. Wedbush lifted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Barclays restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.07.

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.