SoundHound AI (NASDAQ:SOUN) VP Sells $673,904.00 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 42,119 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $16.00, for a total value of $673,904.00. Following the completion of the transaction, the vice president directly owned 685,538 shares of the company’s stock, valued at approximately $10,968,608. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Majid Emami also recently made the following trade(s):

• On Wednesday, September 24th, Majid Emami sold 36,185 shares of SoundHound AI stock. The stock was sold at an average price of $17.86, for a total value of $646,264.10.

SoundHound AI Trading Down 8.0%

Shares of NASDAQ SOUN opened at $16.35 on Friday. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of -25.95 and a beta of 2.58. SoundHound AI, Inc. has a one year low of $4.45 and a one year high of $24.98. The business has a fifty day simple moving average of $13.48 and a 200 day simple moving average of $10.99.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The business had revenue of $42.68 million for the quarter, compared to analyst estimates of $32.88 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The firm’s quarterly revenue was up 216.3% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. On average, research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. DA Davidson increased their price target on shares of SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Wedbush reissued an “outperform” rating and issued a $16.00 target price on shares of SoundHound AI in a report on Thursday, September 11th. Piper Sandler restated a “neutral” rating and set a $12.00 target price on shares of SoundHound AI in a research report on Monday, July 14th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of SoundHound AI in a research note on Wednesday, September 17th. Finally, Oppenheimer assumed coverage on SoundHound AI in a research note on Thursday, September 11th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.36.

Institutional Investors Weigh In On SoundHound AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in SoundHound AI by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock worth $284,687,000 after purchasing an additional 3,028,281 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SoundHound AI by 8.3% during the second quarter. Geode Capital Management LLC now owns 8,830,144 shares of the company’s stock worth $94,759,000 after acquiring an additional 679,436 shares during the last quarter. State Street Corp raised its position in shares of SoundHound AI by 9.1% during the second quarter. State Street Corp now owns 8,476,348 shares of the company’s stock worth $90,951,000 after acquiring an additional 708,369 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of SoundHound AI by 1.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,024,632 shares of the company’s stock valued at $53,906,000 after acquiring an additional 50,904 shares during the period. Finally, Northern Trust Corp boosted its holdings in SoundHound AI by 2.5% in the first quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock valued at $24,190,000 after acquiring an additional 72,766 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

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.