SoundHound AI (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 70,524 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 70,524 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction of $1,410,480.00. Following the completion of the transaction, the chief technology officer directly owned 606,525 shares in the company, valued at $12,130,500. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, September 24th, Timothy Stonehocker sold 2,247 shares of SoundHound AI stock. The shares were sold at an average price of $17.90, for a total transaction of $40,221.30.
• On Monday, September 22nd, Timothy Stonehocker sold 37,570 shares of SoundHound AI stock. The shares were sold at an average price of $16.00, for a total transaction of $601,120.00.

SoundHound AI Price Performance

Shares of SOUN opened at $17.36 on Friday. The firm has a market capitalization of $7.08 billion, a PE ratio of -27.56 and a beta of 2.60. The company’s 50-day moving average is $14.80 and its 200-day moving average is $11.57. SoundHound AI, Inc. has a fifty-two week low of $4.74 and a fifty-two week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.13). The company had revenue of $42.68 million during the quarter, compared to the consensus estimate of $32.88 million. SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. SoundHound AI’s revenue for the quarter was up 216.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. Analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

A number of large investors have recently bought and sold shares of the company. Sound Income Strategies LLC grew its stake in SoundHound AI by 37.3% during the third quarter. Sound Income Strategies LLC now owns 2,116 shares of the company’s stock worth $34,000 after buying an additional 575 shares in the last quarter. Investors Research Corp lifted its holdings in shares of SoundHound AI by 62.4% in the third quarter. Investors Research Corp now owns 1,822 shares of the company’s stock worth $29,000 after acquiring an additional 700 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of SoundHound AI by 5.3% in the second quarter. EP Wealth Advisors LLC now owns 14,100 shares of the company’s stock worth $151,000 after acquiring an additional 706 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of SoundHound AI by 4.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,073 shares of the company’s stock worth $248,000 after acquiring an additional 880 shares during the last quarter. Finally, Apexium Financial LP lifted its holdings in shares of SoundHound AI by 2.8% in the second quarter. Apexium Financial LP now owns 36,698 shares of the company’s stock worth $394,000 after acquiring an additional 1,000 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SOUN. Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of SoundHound AI in a research note on Thursday, September 11th. DA Davidson upped their price target on shares of SoundHound AI from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Wall Street Zen downgraded shares of SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a research note on Saturday, September 27th. Finally, Northland Securities upgraded shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, SoundHound AI has a consensus rating of “Moderate Buy” and an average target price of $14.36.

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.