SoundHound AI, Inc. (NASDAQ:SOUN – Get Free Report) CTO Timothy Stonehocker sold 18,802 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.46, for a total value of $140,262.92. Following the completion of the sale, the chief technology officer owned 502,290 shares of the company’s stock, valued at approximately $3,747,083.40. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Timothy Stonehocker also recently made the following trade(s):
- On Friday, March 20th, Timothy Stonehocker sold 23,087 shares of SoundHound AI stock. The stock was sold at an average price of $6.79, for a total transaction of $156,760.73.
SoundHound AI Stock Performance
Shares of SOUN opened at $6.96 on Thursday. SoundHound AI, Inc. has a one year low of $5.83 and a one year high of $22.17. The stock has a market cap of $3.01 billion, a P/E ratio of -14.81 and a beta of 2.56. The stock has a 50-day moving average of $7.94 and a two-hundred day moving average of $8.81.
Institutional Investors Weigh In On SoundHound AI
Several hedge funds and other institutional investors have recently made changes to their positions in SOUN. EP Wealth Advisors LLC increased its stake in shares of SoundHound AI by 5.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 14,100 shares of the company’s stock worth $151,000 after acquiring an additional 706 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of SoundHound AI by 2.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 31,880 shares of the company’s stock worth $513,000 after acquiring an additional 830 shares during the last quarter. Insigneo Advisory Services LLC increased its stake in shares of SoundHound AI by 7.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 12,416 shares of the company’s stock worth $200,000 after acquiring an additional 858 shares during the last quarter. Clear Creek Financial Management LLC increased its position in SoundHound AI by 1.6% during the fourth quarter. Clear Creek Financial Management LLC now owns 58,091 shares of the company’s stock worth $579,000 after purchasing an additional 941 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in SoundHound AI by 15.5% during the third quarter. PNC Financial Services Group Inc. now owns 7,127 shares of the company’s stock worth $115,000 after purchasing an additional 956 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.
Analyst Ratings Changes
SOUN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundHound AI in a research note on Monday. Piper Sandler restated a “neutral” rating and set a $9.00 price objective (down from $11.00) on shares of SoundHound AI in a research report on Friday, February 27th. HC Wainwright reduced their price objective on shares of SoundHound AI from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. DA Davidson restated a “buy” rating and set a $14.00 price objective on shares of SoundHound AI in a research report on Wednesday, April 22nd. Finally, LADENBURG THALM/SH SH upgraded shares of SoundHound AI to a “strong-buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.93.
View Our Latest Research Report on SOUN
Key SoundHound AI News
Here are the key news stories impacting SoundHound AI this week:
- Neutral Sentiment: Several SoundHound executives and insiders sold shares on June 15, including CEO Keyvan Mohajer, COO Michael Zagorsek, CTO Timothy Stonehocker, SVP Majid Emami, and insider James Ming Hom. The company said the sales were made to cover tax withholding obligations tied to vesting equity awards, which makes the transactions less concerning than open-market selling, but the size and number of sales can still weigh on sentiment.
- Neutral Sentiment: Analysts and commentary pieces continue to highlight SoundHound’s strong growth story in conversational AI and the potential for enterprise adoption, with one bullish note pointing to a possible $500 million revenue target as a reason to view the stock as attractive.
- Neutral Sentiment: Other recent coverage has been more cautious, emphasizing that SOUN trades at a premium to the industry and may not be a clear bargain despite its growth prospects. That valuation debate is likely contributing to volatility.
- Negative Sentiment: Additional market coverage noted that SoundHound AI shares have been falling alongside other names in the sector, suggesting broader weakness in high-growth AI stocks is also pressuring the shares.
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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