Majid Emami Sells 38,730 Shares of SoundHound AI (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) SVP Majid Emami sold 38,730 shares of SoundHound AI stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $6.33, for a total value of $245,160.90. Following the completion of the transaction, the senior vice president directly owned 834,253 shares of the company’s stock, valued at approximately $5,280,821.49. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SoundHound AI Price Performance

Shares of SoundHound AI stock opened at $5.93 on Friday. SoundHound AI, Inc. has a one year low of $5.65 and a one year high of $22.17. The stock’s 50-day moving average is $6.68 and its 200 day moving average is $7.21. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -15.60 and a beta of 2.66.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Wednesday, August 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.11. The business had revenue of $61.90 million during the quarter, compared to analysts’ expectations of $52.38 million. SoundHound AI had a negative return on equity of 30.22% and a negative net margin of 67.45%.The firm’s revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, sell-side analysts expect that SoundHound AI, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOUN. Geode Capital Management LLC grew its stake in SoundHound AI by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 9,180,321 shares of the company’s stock valued at $91,543,000 after acquiring an additional 273,097 shares during the period. Swiss National Bank increased its holdings in shares of SoundHound AI by 3.7% during the first quarter. Swiss National Bank now owns 767,100 shares of the company’s stock valued at $5,270,000 after acquiring an additional 27,300 shares in the last quarter. California State Teachers Retirement System raised its position in shares of SoundHound AI by 25.0% during the first quarter. California State Teachers Retirement System now owns 440,023 shares of the company’s stock worth $3,023,000 after purchasing an additional 87,998 shares during the period. Virtu Financial LLC raised its position in shares of SoundHound AI by 43.9% during the fourth quarter. Virtu Financial LLC now owns 219,773 shares of the company’s stock worth $2,191,000 after purchasing an additional 67,088 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of SoundHound AI by 3.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 179,327 shares of the company’s stock worth $1,788,000 after purchasing an additional 6,096 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

Key Stories Impacting SoundHound AI

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

• Positive Sentiment: Analysts tracked by American Banking News have an average $13.00 price target for SoundHound AI, well above recent trading levels. The consensus suggests significant potential upside if the company executes on its growth strategy. SoundHound AI Receives $13.00 Average Price Target from Analysts
• Positive Sentiment: SoundHound’s Asia business has extended its deal momentum to five consecutive quarters, including new wins in China and India and continued expansion of its OASYS automotive platform. The progress supports the company’s international growth and automotive AI opportunity. The Zacks Analyst Blog Highlights SoundHound AI
• Positive Sentiment: SoundHound’s completed LivePerson acquisition and appointment of former LivePerson executive John Collins as CFO could improve financial integration and support a push toward sustainable profitability. The company’s recent strong second-quarter results and raised full-year guidance add to the bullish case. SoundHound AI’s LivePerson Deal and New CFO Shift Its Profitability Narrative?
• Neutral Sentiment: SoundHound is being compared with NVIDIA as a faster-growing but much smaller AI company. Its narrower voice-AI focus and continuing losses make SOUN a higher-risk growth investment despite its expansion potential. The Zacks Analyst Blog Highlights SoundHound AI
• Negative Sentiment: CEO Keyvan Mohajer, COO Michael Zagorsek, SVP Majid Emami and insider James Hom collectively sold approximately 285,863 shares at $6.33 per share. The filings identify tax withholding related to vested equity awards as the reason, reducing the bearish signal, although the insider selling may still weigh on sentiment. SoundHound AI Insider Buying and Selling

Analysts Set New Price Targets

Several analysts have recently weighed in on SOUN shares. Wall Street Zen upgraded shares of SoundHound AI from a “strong sell” rating to a “sell” rating in a research note on Sunday, September 13th. DA Davidson cut their target price on shares of SoundHound AI from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Piper Sandler cut their target price on shares of SoundHound AI from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

About SoundHound AI

SoundHound AI, Inc develops conversational artificial intelligence and voice-enabled technologies. Its platform is designed to let users interact with devices, applications and services through natural-language speech, supporting functions such as information retrieval, question answering and task completion.

The company’s offerings include the Houndify conversational AI platform, which businesses can use to build branded voice assistants, as well as SoundHound Chat AI, an in-car and consumer-oriented voice assistant that combines conversational capabilities with access to information and services.