SoundHound AI, Inc. (NASDAQ:SOUN – Get Free Report) SVP Majid Emami sold 28,843 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.46, for a total value of $215,168.78. Following the transaction, the senior vice president directly owned 472,983 shares of the company’s stock, valued at $3,528,453.18. The trade was a 5.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $6.79, for a total value of $210,619.01.
SoundHound AI Trading Down 1.0%
Shares of NASDAQ SOUN traded down $0.07 during midday trading on Wednesday, hitting $6.96. 19,183,094 shares of the company’s stock were exchanged, 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 company has a market cap of $3.01 billion, a price-to-earnings ratio of -14.81 and a beta of 2.56. The business’s fifty day moving average price is $7.94 and its two-hundred day moving average price is $8.81.
Trending Headlines about SoundHound AI
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.
Institutional Trading of SoundHound AI
Several hedge funds and other institutional investors have recently bought and sold shares of SOUN. Hollencrest Capital Management boosted its stake in SoundHound AI by 197.5% in the first quarter. Hollencrest Capital Management now owns 3,615 shares of the company’s stock worth $25,000 after buying an additional 2,400 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in SoundHound AI by 83.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company’s stock worth $25,000 after buying an additional 1,060 shares in the last quarter. Dogwood Wealth Management LLC boosted its stake in SoundHound AI by 152.1% in the fourth quarter. Dogwood Wealth Management LLC now owns 2,559 shares of the company’s stock worth $26,000 after buying an additional 1,544 shares in the last quarter. Danske Bank A S bought a new stake in SoundHound AI in the third quarter valued at approximately $26,000. Finally, SHP Wealth Management bought a new stake in SoundHound AI in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently commented on SOUN. Piper Sandler reissued a “neutral” rating and set a $9.00 price objective (down from $11.00) on shares of SoundHound AI in a report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundHound AI in a research note on Monday. HC Wainwright cut their target price on SoundHound AI from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. LADENBURG THALM/SH SH raised SoundHound AI to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $14.00 target price on shares of SoundHound AI in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.93.
Read Our Latest Research Report on SoundHound AI
About SoundHound AI
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.
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