SoundHound AI, Inc. (NASDAQ:SOUN) Insider James Ming Hom Sells 51,196 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 51,196 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $10.25, for a total value of $524,759.00. Following the completion of the transaction, the insider now directly owns 638,456 shares in the company, valued at $6,544,174. This trade represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, March 20th, James Ming Hom sold 28,388 shares of SoundHound AI stock. The shares were sold at an average price of $9.90, for a total value of $281,041.20.

SoundHound AI Stock Performance

NASDAQ:SOUN traded up $0.45 during mid-day trading on Monday, hitting $10.31. The stock had a trading volume of 26,353,351 shares, compared to its average volume of 38,602,530. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $12.19 and a 200-day simple moving average of $10.44. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -28.64 and a beta of 2.62. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98.

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

Institutional Trading of SoundHound AI

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC raised its stake 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 worth $26,000 after buying an additional 1,271 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of SoundHound AI in the fourth quarter valued at $30,000. Future Financial Wealth Managment LLC bought a new stake in SoundHound AI in the fourth quarter worth about $40,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in SoundHound AI in the 4th quarter valued at about $40,000. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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