Majid Emami Sells 21,449 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) VP Majid Emami sold 21,449 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $2.07, for a total transaction of $44,399.43. Following the completion of the transaction, the vice president now directly owns 501,610 shares of the company’s stock, valued at $1,038,332.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, June 30th, Majid Emami sold 68,333 shares of SoundHound AI stock. The shares were sold at an average price of $4.42, for a total transaction of $302,031.86.

SoundHound AI Trading Down 5.3 %

Shares of NASDAQ:SOUN traded down $0.12 on Tuesday, reaching $2.13. 7,052,566 shares of the company traded hands, compared to its average volume of 14,704,644. The business’s 50-day simple moving average is $2.52 and its 200 day simple moving average is $2.75. The company has a current ratio of 4.70, a quick ratio of 4.70 and a debt-to-equity ratio of 4.80. SoundHound AI, Inc. has a 52 week low of $0.93 and a 52 week high of $5.11. The stock has a market capitalization of $512.71 million, a P/E ratio of -4.02 and a beta of 0.67.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $8.75 million for the quarter, compared to analysts’ expectations of $8.07 million. During the same period in the previous year, the company earned ($0.19) EPS. The company’s quarterly revenue was up 42.2% on a year-over-year basis. As a group, equities analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SOUN shares. HC Wainwright began coverage on shares of SoundHound AI in a report on Tuesday, September 5th. They set a “buy” rating and a $5.00 price objective for the company. Cantor Fitzgerald reduced their price objective on SoundHound AI from $6.20 to $4.20 and set an “overweight” rating on the stock in a research report on Wednesday, August 9th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Avestar Capital LLC boosted its holdings in SoundHound AI by 23.4% in the second quarter. Avestar Capital LLC now owns 29,000 shares of the company’s stock worth $132,000 after acquiring an additional 5,500 shares in the last quarter. Royal Bank of Canada increased its stake in shares of SoundHound AI by 520.7% in the 2nd quarter. Royal Bank of Canada now owns 8,690 shares of the company’s stock worth $40,000 after purchasing an additional 7,290 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in SoundHound AI by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 582,633 shares of the company’s stock worth $1,608,000 after buying an additional 7,414 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new position in SoundHound AI in the 2nd quarter worth $36,000. Finally, Geode Capital Management LLC boosted its position in shares of SoundHound AI by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,059,805 shares of the company’s stock worth $1,875,000 after acquiring an additional 8,510 shares during the last quarter. 26.96% of the stock is currently owned by institutional investors.

About SoundHound AI

SoundHound AI, Inc develops independent voice artificial intelligence (AI) platform that enables businesses across 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 automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions SoundHound AI, Inc was founded in 2005 and is headquartered in Santa Clara, California.