SoundHound AI (NASDAQ:SOUN) VP Majid Emami Sells 41,167 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 41,167 shares of SoundHound AI stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total transaction of $823,340.00. Following the transaction, the vice president directly owned 608,186 shares in the company, valued at $12,163,720. This represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Majid Emami also recently made the following trade(s):

• On Wednesday, September 24th, Majid Emami sold 36,185 shares of SoundHound AI stock. The stock was sold at an average price of $17.86, for a total transaction of $646,264.10.
• On Monday, September 22nd, Majid Emami sold 42,119 shares of SoundHound AI stock. The stock was sold at an average price of $16.00, for a total transaction of $673,904.00.

SoundHound AI Price Performance

SOUN opened at $17.36 on Friday. The firm’s fifty day moving average price is $14.80 and its two-hundred day moving average price is $11.57. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of -27.56 and a beta of 2.60. SoundHound AI, Inc. has a 1 year low of $4.74 and a 1 year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). The company had revenue of $42.68 million during the quarter, compared to analysts’ expectations of $32.88 million. SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.SoundHound AI’s quarterly revenue was up 216.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective on shares of SoundHound AI in a report on Monday, July 14th. Oppenheimer assumed coverage on shares of SoundHound AI in a report on Thursday, September 11th. They set a “market perform” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of SoundHound AI in a report on Thursday, September 11th. Northland Capmk raised shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundHound AI in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.36.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fluent Financial LLC bought a new position in shares of SoundHound AI in the third quarter worth approximately $1,083,000. Sound Income Strategies LLC grew its holdings in shares of SoundHound AI by 37.3% in the third quarter. Sound Income Strategies LLC now owns 2,116 shares of the company’s stock worth $34,000 after purchasing an additional 575 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in SoundHound AI in the third quarter worth $194,000. Harbour Capital Advisors LLC lifted its stake in SoundHound AI by 35.0% in the third quarter. Harbour Capital Advisors LLC now owns 35,700 shares of the company’s stock worth $574,000 after acquiring an additional 9,250 shares during the period. Finally, Dynamic Advisor Solutions LLC purchased a new stake in SoundHound AI in the third quarter worth $190,000. 19.28% of the stock is currently owned by institutional investors.

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.