SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka Sells 3,402 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka sold 3,402 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $34,292.16. Following the completion of the transaction, the director now owns 138,850 shares of the company’s stock, valued at $1,399,608. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

SoundHound AI Trading Down 1.1 %

NASDAQ:SOUN opened at $10.20 on Wednesday. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98. 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 company has a market cap of $4.01 billion, a PE ratio of -28.33 and a beta of 2.62. The business’s 50 day moving average is $12.09 and its two-hundred day moving average is $10.52.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. On average, analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in SoundHound AI by 35.6% in the fourth quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company’s stock valued at $635,508,000 after acquiring an additional 8,402,881 shares during the period. Rockefeller Capital Management L.P. acquired a new position in SoundHound AI during the 4th quarter valued at approximately $41,595,000. Invesco Ltd. grew its stake in SoundHound AI by 1,386.2% during the 4th quarter. Invesco Ltd. now owns 1,382,371 shares of the company’s stock worth $27,426,000 after buying an additional 1,289,360 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in SoundHound AI in the fourth quarter worth $16,421,000. Finally, Capital Fund Management S.A. bought a new stake in SoundHound AI in the fourth quarter valued at $16,092,000. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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