Timothy Stonehocker Sells 27,714 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 27,714 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $274,368.60. Following the transaction, the chief technology officer now owns 768,867 shares of the company’s stock, valued at approximately $7,611,783.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, March 24th, Timothy Stonehocker sold 3,333 shares of SoundHound AI stock. The stock was sold at an average price of $10.08, for a total value of $33,596.64.

SoundHound AI Stock Performance

Shares of NASDAQ SOUN traded up $0.45 during midday trading on Monday, hitting $10.31. 26,353,351 shares of the company’s stock were exchanged, compared to its average volume of 38,602,530. SoundHound AI, Inc. has a 12 month low of $3.50 and a 12 month high of $24.98. The company’s 50 day moving average price is $12.19 and its 200 day moving average price is $10.44. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.05 billion, a PE ratio of -28.64 and a beta of 2.62.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The company had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. As a group, 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

Several hedge funds have recently bought and sold shares of SOUN. Commons Capital LLC grew its position in shares of SoundHound AI by 2.7% in the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock valued at $543,000 after purchasing an additional 723 shares during the last quarter. ST Germain D J Co. Inc. grew its holdings in SoundHound AI by 33.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after buying an additional 750 shares in the last quarter. Keynote Financial Services LLC increased its position in SoundHound AI by 4.7% during the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock worth $329,000 after buying an additional 752 shares during the period. Blue Trust Inc. lifted its holdings in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after buying an additional 830 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of SoundHound AI by 16.4% in the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock valued at $131,000 after acquiring an additional 929 shares during the period. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SOUN. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a research report on Monday, February 24th. DA Davidson increased their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Wedbush lifted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Northland Securities increased their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, SoundHound AI has a consensus rating of “Hold” and a consensus price target of $12.86.

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.