SoundHound AI (NASDAQ:SOUN) Insider James Ming Hom Sells 28,843 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 28,843 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $7.46, for a total transaction of $215,168.78. Following the transaction, the insider owned 743,521 shares of the company’s stock, valued at $5,546,666.66. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

James Ming Hom also recently made the following trade(s):

• On Friday, March 20th, James Ming Hom sold 31,019 shares of SoundHound AI stock. The shares were sold at an average price of $6.79, for a total transaction of $210,619.01.

SoundHound AI Stock Down 1.0%

SOUN stock opened at $6.96 on Thursday. The stock has a market capitalization of $3.01 billion, a P/E ratio of -14.81 and a beta of 2.56. The firm has a 50-day simple moving average of $7.94 and a 200-day simple moving average of $8.81. SoundHound AI, Inc. has a 52 week low of $5.83 and a 52 week high of $22.17.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). SoundHound AI had a negative net margin of 91.84% and a negative return on equity of 40.15%. The company had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $42.56 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was up 51.7% compared to the same quarter last year. On average, analysts expect that SoundHound AI, Inc. will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On SoundHound AI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in SoundHound AI by 16.4% in the 3rd quarter. Vanguard Group Inc. now owns 43,457,569 shares of the company’s stock valued at $698,798,000 after purchasing an additional 6,132,648 shares during the last quarter. Morgan Stanley increased its holdings in shares of SoundHound AI by 48.1% during the 4th quarter. Morgan Stanley now owns 8,987,522 shares of the company’s stock worth $89,606,000 after buying an additional 2,917,280 shares during the last quarter. UBS Group AG raised its position in shares of SoundHound AI by 77.6% during the 4th quarter. UBS Group AG now owns 6,124,283 shares of the company’s stock valued at $61,059,000 after buying an additional 2,676,707 shares during the period. Voloridge Investment Management LLC raised its position in shares of SoundHound AI by 2,259.7% during the 4th quarter. Voloridge Investment Management LLC now owns 2,199,511 shares of the company’s stock valued at $21,929,000 after buying an additional 2,106,298 shares during the period. Finally, Jump Financial LLC acquired a new position in SoundHound AI in the third quarter valued at approximately $21,679,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. HC Wainwright lowered their price target on SoundHound AI from $26.00 to $20.00 and set a “buy” rating on the stock 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. DA Davidson restated a “buy” rating and issued a $14.00 price objective on shares of SoundHound AI in a report on Wednesday, April 22nd. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 target price (down from $11.00) on shares of SoundHound AI in a report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundHound AI in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.93.

SoundHound AI News Summary

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.

SoundHound AI Company Profile

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.