SoundHound AI (NASDAQ:SOUN) SVP Sells $215,168.78 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) SVP Majid Emami sold 28,843 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.46, for a total value of $215,168.78. Following the completion of the sale, the senior vice president owned 472,983 shares in the company, valued at $3,528,453.18. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, March 20th, Majid Emami sold 31,019 shares of SoundHound AI stock. The shares were sold at an average price of $6.79, for a total value of $210,619.01.

SoundHound AI Stock Down 1.0%

SoundHound AI stock traded down $0.07 during midday trading on Wednesday, reaching $6.96. The stock had a trading volume of 19,183,094 shares, compared to its average volume of 25,995,096. SoundHound AI, Inc. has a 12 month low of $5.83 and a 12 month high of $22.17. The firm’s 50-day moving average price is $7.94 and its 200 day moving average price is $8.81. The firm has a market capitalization of $3.01 billion, a PE ratio of -14.81 and a beta of 2.56.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). SoundHound AI had a negative net margin of 91.84% and a negative return on equity of 40.15%. The firm had revenue of $44.20 million during the quarter, compared to the consensus estimate of $42.56 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The company’s revenue was up 51.7% on a year-over-year basis. Equities research analysts expect that SoundHound AI, Inc. will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in SoundHound AI by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 45,367,437 shares of the company’s stock valued at $452,313,000 after buying an additional 1,909,868 shares in the last quarter. Geode Capital Management LLC grew its holdings in SoundHound AI by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 9,180,321 shares of the company’s stock valued at $91,543,000 after buying an additional 273,097 shares in the last quarter. Morgan Stanley grew its holdings in SoundHound AI by 48.1% during the 4th quarter. Morgan Stanley now owns 8,987,522 shares of the company’s stock valued at $89,606,000 after buying an additional 2,917,280 shares in the last quarter. State Street Corp grew its holdings in SoundHound AI by 0.9% during the 4th quarter. State Street Corp now owns 8,691,235 shares of the company’s stock valued at $86,652,000 after buying an additional 80,908 shares in the last quarter. Finally, UBS Group AG grew its holdings in SoundHound AI by 77.6% during the 4th quarter. UBS Group AG now owns 6,124,283 shares of the company’s stock valued at $61,059,000 after buying an additional 2,676,707 shares in the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

SoundHound AI News Summary

Here are the key news stories impacting SoundHound AI this week:

• Positive Sentiment: Analysts and market commentary continue to point to SoundHound’s growth potential in conversational AI and enterprise voice solutions, with some bullish views centered on a longer-term revenue ramp.
• Neutral Sentiment: Several insider sales were disclosed, but the company stated they were for tax withholding related to vesting equity awards rather than open-market selling for discretionary reasons.
• Negative Sentiment: Multiple top executives sold shares in the same filing window, which can add pressure to sentiment and reinforce investor concern about the stock’s near-term valuation.
• Negative Sentiment: Recent coverage also emphasized that SoundHound AI trades at a premium, suggesting some investors may be questioning whether the current price fully reflects near-term execution risk.

Analysts Set New Price Targets

SOUN has been the subject of a number of recent research reports. LADENBURG THALM/SH SH upgraded shares of SoundHound AI to a “strong-buy” rating in a research note on Wednesday, May 6th. DA Davidson reiterated a “buy” rating and issued a $14.00 price objective on shares of SoundHound AI in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundHound AI in a research note on Monday. HC Wainwright reduced their price objective on shares of SoundHound AI from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $9.00 price objective (down from $11.00) on shares of SoundHound AI in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.93.

SoundHound AI Company Profile

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.