SoundHound AI (NASDAQ:SOUN) COO Sells 71,113 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) COO Michael Zagorsek sold 71,113 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $6.33, for a total transaction of $450,145.29. Following the sale, the chief operating officer owned 2,600,231 shares in the company, valued at $16,459,462.23. This represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SoundHound AI Price Performance

NASDAQ SOUN traded up $0.07 on Thursday, hitting $6.00. 16,598,502 shares of the stock were exchanged, compared to its average volume of 28,301,928. The company’s 50-day moving average price is $6.70 and its two-hundred day moving average price is $7.24. SoundHound AI, Inc. has a 52-week low of $5.65 and a 52-week high of $22.17. The company 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 issued its earnings results on Wednesday, August 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.11. The business had revenue of $61.90 million during the quarter, compared to analysts’ expectations of $52.38 million. SoundHound AI had a negative return on equity of 30.22% and a negative net margin of 67.45%.SoundHound AI’s revenue was up 45.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) earnings per share. Equities analysts predict that SoundHound AI, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Trading of SoundHound AI

Large investors have recently added to or reduced their stakes in the business. SHP Wealth Management acquired a new position in shares of SoundHound AI during the 4th quarter worth $27,000. Hollencrest Capital Management boosted its holdings in SoundHound AI by 197.5% in the first quarter. Hollencrest Capital Management now owns 3,615 shares of the company’s stock worth $25,000 after purchasing an additional 2,400 shares in the last quarter. Vermillion Wealth Management Inc. boosted its holdings in SoundHound AI by 5,164.8% in the fourth quarter. Vermillion Wealth Management Inc. now owns 4,791 shares of the company’s stock worth $48,000 after purchasing an additional 4,700 shares in the last quarter. Clarus Group Inc. acquired a new position in SoundHound AI during the first quarter worth $69,000. Finally, 180 Wealth Advisors LLC acquired a new position in SoundHound AI during the first quarter worth $69,000. 19.28% of the stock is owned by institutional investors.

More 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

Wall Street Analysts Forecast Growth

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

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.