SoundHound AI (NASDAQ:SOUN) Insider James Ming Hom Sells 38,730 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Hom sold 38,730 shares of SoundHound AI stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $6.33, for a total transaction of $245,160.90. Following the completion of the sale, the insider owned 1,105,555 shares in the company, valued at approximately $6,998,163.15. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SoundHound AI Trading Up 1.2%

Shares of SOUN opened at $6.00 on Friday. SoundHound AI, Inc. has a 1-year low of $5.65 and a 1-year high of $22.17. The firm’s 50-day moving average price is $6.69 and its 200-day moving average price is $7.22. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -15.79 and a beta of 2.66.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. SoundHound AI had a negative net margin of 67.45% and a negative return on equity of 30.22%. The company had revenue of $61.90 million during the quarter, compared to the consensus estimate of $52.38 million. During the same period in the prior year, the firm earned ($0.19) earnings per share. SoundHound AI’s revenue was up 45.0% on a year-over-year basis. On average, research analysts forecast that SoundHound AI, Inc. will post -0.33 EPS for the current fiscal year.

Key SoundHound AI News

Here are the key news stories impacting SoundHound AI this week:

• Positive Sentiment: Analysts cited by American Banking News assign SoundHound an average price target of $13.00, substantially above recent trading levels. This suggests potential upside if the company delivers on its growth plans. SoundHound AI Receives $13.00 Average Price Target from Analysts
• Positive Sentiment: SoundHound’s Asia business has extended its deal momentum to five consecutive quarters, with additional wins in China and India and continued expansion of its OASYS automotive platform. The developments support the company’s international growth and automotive AI opportunity. SoundHound Asia Growth Extends to 5 Quarters
• Neutral Sentiment: A comparison with NVIDIA highlights SoundHound’s rapid growth and narrowing losses, but also its much smaller scale, narrower voice-AI focus and lack of profitability. Investors may view the company as a higher-risk growth alternative within the AI sector. SoundHound vs. NVIDIA After Earnings
• Negative Sentiment: CEO Keyvan Mohajer, COO Michael Zagorsek, SVP Majid Emami and insider James Hom collectively sold about 285,863 shares at an average price of $6.33. The filings state the sales were made to cover tax withholding tied to vested equity awards, which reduces their bearish significance, although the volume may still weigh on sentiment. SoundHound Insider Sale Filing
• Negative Sentiment: SoundHound has recently declined alongside other speculative software names, including UiPath and C3.ai, despite broader market resilience. The sector-wide selling reflects investor caution toward unprofitable, high-volatility AI stocks and remains a headwind for SOUN. SoundHound AI Drops as Speculative Software Selling Intensifies

Analysts Set New Price Targets

SOUN has been the topic of several research reports. DA Davidson dropped their price target on SoundHound AI from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen raised SoundHound AI from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundHound AI in a research report on Friday, September 11th. Finally, Piper Sandler decreased their price target on shares of SoundHound AI from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Hedge Funds Weigh In On SoundHound AI

Several large investors have recently modified their holdings of SOUN. Geode Capital Management LLC grew its position in SoundHound AI by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 9,180,321 shares of the company’s stock valued at $91,543,000 after purchasing an additional 273,097 shares during the last quarter. Swiss National Bank raised its holdings in SoundHound AI by 3.7% in the first quarter. Swiss National Bank now owns 767,100 shares of the company’s stock worth $5,270,000 after buying an additional 27,300 shares during the last quarter. California State Teachers Retirement System raised its holdings in SoundHound AI by 25.0% in the first quarter. California State Teachers Retirement System now owns 440,023 shares of the company’s stock worth $3,023,000 after buying an additional 87,998 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of SoundHound AI by 43.9% in the fourth quarter. Virtu Financial LLC now owns 219,773 shares of the company’s stock worth $2,191,000 after buying an additional 67,088 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of SoundHound AI by 3.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 179,327 shares of the company’s stock worth $1,788,000 after purchasing an additional 6,096 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

SoundHound AI Company Profile

SoundHound AI, Inc develops conversational artificial intelligence and voice-enabled technologies. Its platform is designed to let users interact with devices, applications and services through natural-language speech, supporting functions such as information retrieval, question answering and task completion.

The company’s offerings include the Houndify conversational AI platform, which businesses can use to build branded voice assistants, as well as SoundHound Chat AI, an in-car and consumer-oriented voice assistant that combines conversational capabilities with access to information and services.