SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 44,157 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 44,157 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $12.00, for a total transaction of $529,884.00. Following the completion of the sale, the chief technology officer now owns 723,009 shares in the company, valued at $8,676,108. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 transaction of $33,596.64.
• On Thursday, March 20th, Timothy Stonehocker sold 27,714 shares of SoundHound AI stock. The stock was sold at an average price of $9.90, for a total transaction of $274,368.60.

SoundHound AI Trading Up 4.4%

NASDAQ SOUN opened at $11.76 on Thursday. SoundHound AI, Inc. has a one year low of $3.82 and a one year high of $24.98. The company has a 50-day simple moving average of $8.98 and a 200-day simple moving average of $11.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market capitalization of $4.69 billion, a PE ratio of -32.67 and a beta of 2.71.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $29.13 million during the quarter, compared to analyst estimates of $30.38 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company’s quarterly revenue was up 151.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of SoundHound AI

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Effects LLC bought a new stake in shares of SoundHound AI during the 4th quarter worth about $357,000. Kraematon Investment Advisors Inc. bought a new stake in shares of SoundHound AI during the 4th quarter worth about $355,000. Mitchell Capital Management Co. bought a new stake in shares of SoundHound AI during the 4th quarter worth about $2,329,000. SG Americas Securities LLC raised its position in shares of SoundHound AI by 70.2% during the 4th quarter. SG Americas Securities LLC now owns 195,028 shares of the company’s stock worth $3,869,000 after buying an additional 80,448 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of SoundHound AI during the 4th quarter worth about $944,000. 19.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SOUN shares. Wedbush dropped their price objective on shares of SoundHound AI from $22.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. HC Wainwright dropped their price objective on shares of SoundHound AI from $26.00 to $18.00 and set a “buy” rating for the company in a research report on Monday. DA Davidson lowered their price target on shares of SoundHound AI from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.29.

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.