SoundHound AI, Inc. (NASDAQ:SOUN) CFO Sells $193,872.64 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CFO Nitesh Sharan sold 39,728 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $193,872.64. Following the transaction, the chief financial officer now directly owns 1,560,411 shares of the company’s stock, valued at $7,614,805.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

SoundHound AI Trading Up 0.4 %

Shares of SoundHound AI stock traded up $0.02 on Tuesday, reaching $4.90. The stock had a trading volume of 11,923,487 shares, compared to its average volume of 36,062,578. The business’s 50 day moving average is $4.87 and its two-hundred day moving average is $4.98. SoundHound AI, Inc. has a 1 year low of $1.49 and a 1 year high of $10.25. The company has a market cap of $1.61 billion, a P/E ratio of -12.66 and a beta of 2.74.

SoundHound AI (NASDAQ:SOUN) last posted 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 firm had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $13.09 million. SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The business’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. On average, equities analysts anticipate that SoundHound AI, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. increased its stake in SoundHound AI by 17.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 13,561 shares of the company’s stock worth $80,000 after acquiring an additional 2,000 shares during the last quarter. Genesee Capital Advisors LLC grew its holdings in shares of SoundHound AI by 11.4% during the second quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock worth $77,000 after purchasing an additional 2,000 shares in the last quarter. Signaturefd LLC increased its position in shares of SoundHound AI by 27.3% in the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after purchasing an additional 2,200 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in SoundHound AI by 24.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock valued at $46,000 after purchasing an additional 2,320 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in SoundHound AI by 13.7% during the second quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock valued at $82,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on SOUN shares. Cantor Fitzgerald raised 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. Northland Securities increased their target price on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research report on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, September 18th. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.08.

SoundHound AI Company Profile

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.