SoundHound AI (NASDAQ:SOUN) SVP Majid Emami Sells 28,843 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) SVP Majid Emami sold 28,843 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.46, for a total transaction of $215,168.78. Following the completion of the sale, the senior vice president owned 472,983 shares of the company’s stock, valued at approximately $3,528,453.18. The trade was a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, March 20th, Majid Emami sold 31,019 shares of SoundHound AI stock. The stock was sold at an average price of $6.79, for a total transaction of $210,619.01.

SoundHound AI Stock Down 1.0%

Shares of SOUN opened at $6.96 on Thursday. The firm has a market cap of $3.01 billion, a PE ratio of -14.81 and a beta of 2.56. The company’s fifty day moving average is $7.94 and its two-hundred day moving average is $8.81. SoundHound AI, Inc. has a fifty-two week low of $5.83 and a fifty-two week high of $22.17.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $44.20 million for the quarter, compared to analyst estimates of $42.56 million. SoundHound AI had a negative return on equity of 40.15% and a negative net margin of 91.84%.The company’s quarterly revenue was up 51.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.06) earnings per share. As a group, equities research analysts anticipate that SoundHound AI, Inc. will post -0.45 earnings per share for the current year.

Key SoundHound AI News

Here are the key news stories impacting SoundHound AI this week:

• Neutral Sentiment: Several SoundHound executives and insiders sold shares on June 15, including CEO Keyvan Mohajer, COO Michael Zagorsek, CTO Timothy Stonehocker, SVP Majid Emami, and insider James Ming Hom. The company said the sales were made to cover tax withholding obligations tied to vesting equity awards, which makes the transactions less concerning than open-market selling, but the size and number of sales can still weigh on sentiment.
• Neutral Sentiment: Analysts and commentary pieces continue to highlight SoundHound’s strong growth story in conversational AI and the potential for enterprise adoption, with one bullish note pointing to a possible $500 million revenue target as a reason to view the stock as attractive.
• Neutral Sentiment: Other recent coverage has been more cautious, emphasizing that SOUN trades at a premium to the industry and may not be a clear bargain despite its growth prospects. That valuation debate is likely contributing to volatility.
• Negative Sentiment: Additional market coverage noted that SoundHound AI shares have been falling alongside other names in the sector, suggesting broader weakness in high-growth AI stocks is also pressuring the shares.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SOUN. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 6,132,648 shares during the period. Morgan Stanley raised its holdings in shares of SoundHound AI by 48.1% during the 4th quarter. Morgan Stanley now owns 8,987,522 shares of the company’s stock valued at $89,606,000 after buying an additional 2,917,280 shares during the period. UBS Group AG lifted its position in SoundHound AI by 77.6% during the 4th quarter. UBS Group AG now owns 6,124,283 shares of the company’s stock worth $61,059,000 after acquiring an additional 2,676,707 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in SoundHound AI by 2,259.7% in the 4th quarter. Voloridge Investment Management LLC now owns 2,199,511 shares of the company’s stock worth $21,929,000 after acquiring an additional 2,106,298 shares during the period. Finally, Jump Financial LLC purchased a new position in SoundHound AI in the 3rd quarter worth approximately $21,679,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SOUN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundHound AI in a research note on Monday. LADENBURG THALM/SH SH raised shares of SoundHound AI to a “strong-buy” rating in a research report on Wednesday, May 6th. Piper Sandler restated a “neutral” rating and issued a $9.00 price target (down from $11.00) on shares of SoundHound AI in a report on Friday, February 27th. DA Davidson reiterated a “buy” rating and set a $14.00 price objective on shares of SoundHound AI in a research note on Wednesday, April 22nd. Finally, HC Wainwright dropped their price objective on shares of SoundHound AI from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.93.

About SoundHound AI

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.