Diana Sroka Sells 1,343 Shares of SoundHound AI (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka sold 1,343 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $12.99, for a total transaction of $17,445.57. Following the completion of the transaction, the director directly owned 152,606 shares in the company, valued at approximately $1,982,351.94. The trade was a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SoundHound AI Trading Down 0.4%

SOUN opened at $12.17 on Friday. The firm’s 50 day simple moving average is $16.64 and its two-hundred day simple moving average is $13.11. The company has a market capitalization of $4.96 billion, a PE ratio of -14.49 and a beta of 2.60. SoundHound AI, Inc. has a 1-year low of $5.97 and a 1-year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.06. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The firm had revenue of $42.05 million during the quarter, compared to analyst estimates of $40.48 million. During the same period in the prior year, the business posted ($0.04) EPS. SoundHound AI’s revenue was up 67.6% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. Equities analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SOUN shares. Wall Street Zen cut shares of SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Piper Sandler increased their target price on SoundHound AI from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Oppenheimer initiated coverage on SoundHound AI in a report on Thursday, September 11th. They issued a “market perform” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of SoundHound AI in a report on Tuesday, October 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $16.00 price target on shares of SoundHound AI in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.42.

Hedge Funds Weigh In On SoundHound AI

A number of hedge funds have recently added to or reduced their stakes in SOUN. Vanguard Group Inc. grew its stake in SoundHound AI by 16.4% in the third quarter. Vanguard Group Inc. now owns 43,457,569 shares of the company’s stock worth $698,798,000 after purchasing an additional 6,132,648 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SoundHound AI by 8.3% during the second quarter. Geode Capital Management LLC now owns 8,830,144 shares of the company’s stock valued at $94,759,000 after buying an additional 679,436 shares during the period. State Street Corp raised its holdings in shares of SoundHound AI by 9.1% in the second quarter. State Street Corp now owns 8,476,348 shares of the company’s stock valued at $90,951,000 after acquiring an additional 708,369 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SoundHound AI by 1.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,024,632 shares of the company’s stock worth $53,906,000 after acquiring an additional 50,904 shares during the period. Finally, Northern Trust Corp grew its holdings in SoundHound AI by 2.5% during the 1st quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock worth $24,190,000 after acquiring an additional 72,766 shares in the last quarter. 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.