SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) VP Majid Emami sold 28,392 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,080.80. Following the transaction, the vice president now owns 669,834 shares of the company's stock, valued at approximately $6,631,356.60. This trade represents a 4.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
SoundHound AI Price Performance
Shares of SOUN traded down $0.50 during mid-day trading on Thursday, hitting $8.88. 15,602,424 shares of the stock were exchanged, compared to its average volume of 38,204,952. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $3.54 billion, a PE ratio of -24.67 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. The firm has a 50-day moving average of $12.00 and a two-hundred day moving average of $10.52.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly 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 return on equity of 55.58% and a negative net margin of 163.58%. The business had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. On average, equities analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.
Analyst Ratings Changes
SOUN has been the topic of a number of analyst reports. Wedbush lifted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Northland Securities boosted their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Tuesday, January 14th. HC Wainwright reaffirmed a "buy" rating and issued a $26.00 price objective on shares of SoundHound AI in a research note on Monday, March 3rd. DA Davidson lifted their target price on SoundHound AI from $9.50 to $13.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Cantor Fitzgerald upgraded SoundHound AI to a "hold" rating in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.86.
Read Our Latest Stock Analysis on SOUN
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in SoundHound AI by 35.6% during the fourth quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company's stock worth $635,508,000 after acquiring an additional 8,402,881 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of SoundHound AI by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 7,509,496 shares of the company's stock worth $149,024,000 after purchasing an additional 315,897 shares during the period. State Street Corp increased its position in shares of SoundHound AI by 0.6% during the 3rd quarter. State Street Corp now owns 7,197,414 shares of the company's stock valued at $33,540,000 after purchasing an additional 42,869 shares during the last quarter. Northern Trust Corp raised its holdings in SoundHound AI by 10.0% during the 4th quarter. Northern Trust Corp now owns 2,906,245 shares of the company's stock valued at $57,660,000 after buying an additional 264,382 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in SoundHound AI by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,725,693 shares of the company's stock worth $54,078,000 after buying an additional 143,487 shares during the last quarter. Institutional investors own 19.28% of the company's stock.
SoundHound AI Company Profile
(
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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.
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