SoundHound AI (NASDAQ:SOUN) VP Sells $823,340.00 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 41,167 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total transaction of $823,340.00. Following the completion of the sale, the vice president owned 608,186 shares in the company, valued at $12,163,720. This represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Majid Emami also recently made the following trade(s):

• On Wednesday, September 24th, Majid Emami sold 36,185 shares of SoundHound AI stock. The stock was sold at an average price of $17.86, for a total transaction of $646,264.10.
• On Monday, September 22nd, Majid Emami sold 42,119 shares of SoundHound AI stock. The stock was sold at an average price of $16.00, for a total transaction of $673,904.00.

SoundHound AI Stock Performance

NASDAQ:SOUN opened at $17.36 on Monday. The company has a 50-day moving average of $14.80 and a 200-day moving average of $11.61. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of -27.56 and a beta of 2.60. SoundHound AI, Inc. has a 52 week low of $4.74 and a 52 week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). The business had revenue of $42.68 million for the quarter, compared to the consensus estimate of $32.88 million. SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.SoundHound AI’s revenue was up 216.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. Sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Hedge Funds Weigh In On SoundHound AI

A number of institutional investors have recently modified their holdings of SOUN. Vanguard Group Inc. raised its stake in shares of SoundHound AI by 9.5% in the first quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock worth $284,687,000 after acquiring an additional 3,028,281 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of SoundHound AI by 84.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,973,728 shares of the company’s stock worth $40,390,000 after acquiring an additional 2,274,105 shares during the last quarter. HRT Financial LP bought a new position in shares of SoundHound AI in the second quarter worth about $11,914,000. Goldman Sachs Group Inc. raised its stake in shares of SoundHound AI by 69.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company’s stock worth $21,434,000 after acquiring an additional 1,085,473 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of SoundHound AI in the first quarter worth about $7,406,000. 19.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOUN has been the subject of a number of analyst reports. Oppenheimer initiated coverage on shares of SoundHound AI in a report on Thursday, September 11th. They set a “market perform” rating for the company. Northland Securities upgraded shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a research report on Friday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a research report on Saturday, September 27th. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of SoundHound AI in a research report on Wednesday, September 17th. Finally, Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of SoundHound AI in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.36.

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.