Michael Zagorsek Sells 27,533 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUNGet Free Report) COO Michael Zagorsek sold 27,533 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $2.07, for a total transaction of $56,993.31. Following the completion of the transaction, the chief operating officer now owns 820,104 shares in the company, valued at $1,697,615.28. The transaction was disclosed in a filing with the SEC, which is available at this link.

Michael Zagorsek also recently made the following trade(s):

  • On Wednesday, June 21st, Michael Zagorsek sold 14,786 shares of SoundHound AI stock. The stock was sold at an average price of $3.66, for a total transaction of $54,116.76.

SoundHound AI Stock Performance

Shares of SOUN traded down $0.12 on Tuesday, reaching $2.13. 7,052,566 shares of the stock traded hands, compared to its average volume of 14,704,644. The company has a debt-to-equity ratio of 4.80, a current ratio of 4.70 and a quick ratio of 4.70. The stock’s 50-day moving average price is $2.52 and its 200-day moving average price is $2.75. The firm has a market cap of $512.71 million, a price-to-earnings ratio of -4.02 and a beta of 0.67. SoundHound AI, Inc. has a 12 month low of $0.93 and a 12 month high of $5.11.

SoundHound AI (NASDAQ:SOUNGet Free Report) last announced its earnings results on Tuesday, August 8th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $8.75 million during the quarter, compared to the consensus estimate of $8.07 million. The company’s revenue was up 42.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) earnings per share. Equities analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System bought a new position in SoundHound AI during the second quarter worth about $789,000. Osaic Holdings Inc. raised its position in shares of SoundHound AI by 178.0% during the second quarter. Osaic Holdings Inc. now owns 18,846 shares of the company’s stock worth $86,000 after purchasing an additional 12,066 shares during the period. Nuveen Asset Management LLC bought a new position in shares of SoundHound AI during the 2nd quarter valued at about $1,785,000. Alliancebernstein L.P. acquired a new stake in shares of SoundHound AI during the second quarter worth $788,000. Finally, Wells Fargo & Company MN lifted its position in SoundHound AI by 480.6% during the 2nd quarter. Wells Fargo & Company MN now owns 91,152 shares of the company’s stock worth $415,000 after buying an additional 75,452 shares in the last quarter. Institutional investors and hedge funds own 26.96% of the company’s stock.

Analyst Upgrades and Downgrades

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

Read Our Latest Report on SOUN

About SoundHound AI

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for SoundHound AI (NASDAQ:SOUN)

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