SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker Sells 27,714 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 27,714 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $274,368.60. Following the sale, the chief technology officer now owns 768,867 shares in the company, valued at $7,611,783.30. The trade was a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.

SoundHound AI Stock Down 8.0 %

Shares of SOUN stock opened at $9.38 on Thursday. SoundHound AI, Inc. has a twelve month low of $3.50 and a twelve month high of $24.98. The stock has a market cap of $3.74 billion, a P/E ratio of -26.06 and a beta of 2.62. The stock has a 50 day moving average of $12.00 and a 200 day moving average of $10.52. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $33.70 million. As a group, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SOUN. Blue Trust Inc. increased its stake in shares of SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC grew its holdings in SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 1,271 shares during the period. Orion Capital Management LLC purchased a new stake in shares of SoundHound AI in the fourth quarter valued at approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of SoundHound AI during the 4th quarter worth approximately $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of SoundHound AI during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a report on Monday, February 24th. DA Davidson boosted their price target on SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Wedbush lifted their target price on 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 report on Monday, March 3rd. Finally, Northland Securities lifted their price objective on shares of 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, SoundHound AI presently has an average rating of “Hold” and a consensus price target of $12.86.

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.