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Timothy Stonehocker, the Chief Technology Officer of SoundHound AI , Inc. (NASDAQ:SOUN), a company currently valued at $3.9 billion, recently executed a series of stock transactions as disclosed in a Form 4 filing with the Securities and Exchange Commission. The stock has shown remarkable momentum, gaining over 110% in the past six months despite its current trading volatility. On March 20, 2025, Stonehocker sold 27,714 shares of Class A Common Stock at an average price of $9.9018 per share, amounting to approximately $274,418. Additionally, on March 24, 2025, he sold another 3,333 shares at a price of $10.08 each, totaling around $33,596. These transactions were conducted under a Rule 10b5-1 trading plan adopted in December 2024. Following these sales, Stonehocker holds 765,534 shares directly. The initial sale was made to cover tax obligations related to previously vested restricted stock units. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with high trading volume averaging 51.77 million shares over the past three months. For deeper insights into insider trading patterns and 12+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, SoundHound AI has announced a significant partnership with NVIDIA (NASDAQ:NVDA) to enhance its voice AI solutions by integrating NVIDIA AI Enterprise software. This collaboration aims to improve AI processing latency and response accuracy, benefiting sectors like the automotive industry, where Lucid Motors (NASDAQ:LCID) is already seeing improvements. SoundHound AI recently delayed filing its Form 10-K due to the complexity of accounting for its acquisitions of Synq3, Inc. and Amelia Holdings, Inc., highlighting ongoing material weaknesses in financial reporting controls. The company has assured investors of its intention to file the report by March 18, 2025, within the allowed extension period.
The financial community is closely watching these developments, particularly as SoundHound AI has revised its 2025 revenue guidance upwards, now expecting between $157.0 million and $177.0 million. Analysts at H.C. Wainwright maintain a Buy rating on SoundHound AI, with a price target of $26, citing strong sales momentum across multiple industries. Meanwhile, DA Davidson has raised its price target for the company to $13, reflecting confidence in SoundHound’s strategic expansion and revenue growth. The company’s acquisition of Amelia has notably expanded its total addressable market and diversified its business operations. These recent developments suggest that SoundHound AI is effectively navigating the AI landscape and positioning itself for continued growth.
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