SoundHound AI, Inc. (NASDAQ:SOUN – Get Free Report) COO Michael Zagorsek sold 42,001 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $204,964.88. Following the completion of the transaction, the chief operating officer now owns 1,473,322 shares of the company’s stock, valued at $7,189,811.36. The sale was disclosed in a document filed with the SEC, which is available through this link.
SoundHound AI Stock Up 0.4 %
Shares of SOUN opened at $4.91 on Friday. SoundHound AI, Inc. has a twelve month low of $1.49 and a twelve month high of $10.25. The company has a market capitalization of $1.62 billion, a P/E ratio of -12.92 and a beta of 2.74. The firm has a 50 day moving average of $4.84 and a 200 day moving average of $4.97.
SoundHound AI (NASDAQ:SOUN – Get Free Report) last posted its earnings results 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 the consensus estimate of $13.09 million. SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The firm’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) EPS. On average, sell-side analysts expect that SoundHound AI, Inc. will post -0.36 EPS for the current year.
Analysts Set New Price Targets
View Our Latest Report on SOUN
Institutional Investors Weigh In On SoundHound AI
Several large investors have recently bought and sold shares of SOUN. Kings Path Partners LLC purchased a new stake in shares of SoundHound AI during the 2nd quarter valued at about $28,000. Hexagon Capital Partners LLC purchased a new position in shares of SoundHound AI during the first quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new position in SoundHound AI during the second quarter valued at approximately $31,000. HighPoint Advisor Group LLC purchased a new stake in SoundHound AI in the fourth quarter worth approximately $37,000. Finally, Amalgamated Bank grew its position in SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after purchasing an additional 5,099 shares during the period. 19.28% of the stock is currently owned by institutional investors.
About SoundHound AI
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.
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