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

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 51,196 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.25, for a total value of $524,759.00. Following the sale, the insider now owns 638,456 shares in the company, valued at approximately $6,544,174. This represents a 7.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $9.90, for a total transaction of $281,041.20.

SoundHound AI Price Performance

Shares of NASDAQ SOUN opened at $10.31 on Tuesday. The business’s 50 day moving average is $12.14 and its 200-day moving average is $10.48. The firm has a market cap of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.62. SoundHound AI, Inc. has a 1-year low of $3.50 and a 1-year high of $24.98. 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 analysts’ consensus estimates 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 firm had revenue of $34.54 million for the quarter, compared to analyst estimates of $33.70 million. Equities research analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of SoundHound AI by 35.6% in the fourth quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company’s stock valued at $635,508,000 after buying an additional 8,402,881 shares during the period. Rockefeller Capital Management L.P. acquired a new position in SoundHound AI in the 4th quarter valued at $41,595,000. Invesco Ltd. lifted its position in shares of SoundHound AI by 1,386.2% during the 4th quarter. Invesco Ltd. now owns 1,382,371 shares of the company’s stock valued at $27,426,000 after acquiring an additional 1,289,360 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of SoundHound AI during the 4th quarter worth $16,421,000. Finally, Capital Fund Management S.A. bought a new position in shares of SoundHound AI in the fourth quarter worth $16,092,000. Institutional investors and hedge funds 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.