Director of SoundHound AI, Inc. (NASDAQ:SOUN) sells $251,000.00 worth of stock

VaselineAugust 25, 2024

0 4 minutes read

SoundHound AI, Inc. (NASDAQ:SOUN – Get Your Free Report ) Director Lawrence Marcus sold 50,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the transaction, the director now owns 74,038 shares of the company’s stock, valued at $371,670.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website.

Lawrence Marcus also recently traded:

On Monday, June 10th, Lawrence Marcus sold 50,000 shares of SoundHound AI stock. The stock was sold at an average price of $4.81, for a total value of $240,500.00.

Stock SoundHound AI performance

NASDAQ:SOUN opened at $5.03 on Friday. SoundHound AI, Inc. it has a 12-month low of $1.49 and a 12-month high of $10.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84, and a quick ratio of 8.84. The firm has a market cap of $1.66 billion, a PE ratio of -13.24 and a beta of 2.77. The company’s fifty day moving average price is $4.67 and its 200 day moving average price is $4.85.

Want more great investment ideas?

SoundHound AI (NASDAQ:SOUN – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $13.09 million. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The company’s revenue was up 53.8% compared to the same quarter last year. In the same quarter last year, the company posted EPS of ($0.10). On average, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.3 earnings per share for the current fiscal year.

Changes in Analyst Ratings

SUNET has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Monday, August 12th. Wedbush reissued an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research report on Friday, August 9th. Cantor Fitzgerald raised SoundHound AI from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $5.00 to $7.00 in a research report on Friday, 9 August. Finally, Northland Securities lifted their price target on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. SoundHound AI presently has an average rating of “Moderate Buy” and a consensus price target of $7.08, based on data from MarketBeat.

Check out our latest review of SoundHound AI

Institutional Trading of SoundHound AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOUN. Vanguard Group Inc. increased its position in shares of SoundHound AI by 16.1% in the first quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock valued at $94,655,000 after buying an additional 2,226,471 shares during the last quarter. Intrinsic Edge Capital Management LLC boosted its holdings in shares of SoundHound AI by 47.7% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 4,848,211 shares of the company’s stock worth $10,278,000 after buying an additional 1,566,238 shares in the last quarter. Baupost Group LLC MA acquired a new stake in shares of SoundHound AI in the 1st quarter worth about $6,659,000. Bank of New York Mellon Corp boosted its holdings in shares of SoundHound AI by 92.7% in the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock valued at $3,940,000 after buying an additional 479,912 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of SoundHound AI by 563.0% in the first quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock valued at $2,843,000 after buying an additional 409,917 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s shares.

About SoundHound AI

(Get a free report)

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enable companies in the automotive, TV and IoT, and customer service industries to deliver high-quality conversational experiences to customers. Its products include the Houndify Platform which provides a suite of Houndify tools to help brands build conversational voice assistants such as Application Programming Interfaces (APIs) for text and voice queries, support for custom commands, extensive library of content domains , including software development kit platforms. , collaboration capabilities, built-in diagnostic and analytics tools; SoundHound Chat AI that integrates with knowledge domains, extracting real-time data such as weather, sports, stocks, flight status and restaurants; and SoundHound Smart Answering is designed to provide customers with a personalized, AI-powered voice assistant.