Timothy Stonehocker Sells 3,333 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CTO Timothy Stonehocker sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $33,596.64. Following the completion of the sale, the chief technology officer now directly owns 765,534 shares of the company’s stock, valued at $7,716,582.72. The trade was a 0.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Timothy Stonehocker also recently made the following trade(s):

• On Thursday, March 20th, Timothy Stonehocker sold 27,714 shares of SoundHound AI stock. The shares were sold at an average price of $9.90, for a total transaction of $274,368.60.

SoundHound AI Trading Down 8.0 %

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

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

Analysts Set New Price Targets

Several research firms have weighed in on SOUN. DA Davidson lifted their target price on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Northland Securities increased their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, SoundHound AI currently has a consensus rating of “Hold” and a consensus price target of $12.86.

Hedge Funds Weigh In On SoundHound AI

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

SoundHound AI Company Profile

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.