SoundHound AI CTO Timothy Stonehocker sells shares worth $308,014

Published 24/03/2025, 23:48
SoundHound AI CTO Timothy Stonehocker sells shares worth $308,014

In recent transactions, Timothy Stonehocker, the Chief Technology Officer of SoundHound AI , Inc. (NASDAQ:SOUN), sold shares of the company’s Class A Common Stock, amounting to a total value of $308,014. The transactions were reported in a Form 4 filing with the Securities and Exchange Commission. The sales come as the $3.93 billion market cap company has seen significant price swings, with shares surging 110% over the past six months despite a 48% decline year-to-date.

On March 20, Stonehocker sold 27,714 shares at an average price of $9.9018 per share, totaling approximately $274,418. This sale was made to cover tax withholding obligations related to the vesting of restricted stock units.

Additionally, on March 24, he sold 3,333 shares at an average price of $10.08 per share, amounting to $33,596. This transaction was executed as part of a Rule 10b5-1 trading plan adopted by Stonehocker in December 2024.

Following these transactions, Stonehocker holds 765,534 shares of SoundHound AI.

In other recent news, SoundHound AI reported its financial results for the fourth quarter and full year ending December 31, 2024. The company’s revenue and adjusted EBITDA exceeded expectations, prompting a positive outlook from analysts. SoundHound AI has also revised its 2025 revenue guidance upwards to between $157.0 million and $177.0 million, slightly increasing from the previous forecast. However, the company announced a delay in filing its Form 10-K due to complexities in accounting for its recent acquisitions of Synq3, Inc. and Amelia Holdings, Inc. Despite this delay, SoundHound AI intends to file within the fifteen-day extension period allowed.

Analyst firms have responded positively to SoundHound’s performance. H.C. Wainwright maintained a Buy rating with a price target of $26.00, citing the company’s robust sales momentum across various industries. DA Davidson also raised its price target to $13.00 from $9.50, highlighting SoundHound’s expansion into new sectors and the strategic acquisition of Amelia Holdings, which broadened its market reach. The company’s partnership with NVIDIA (NASDAQ:NVDA) was further deepened, aiming to enhance its voice AI solutions with NVIDIA AI Enterprise software. This collaboration is expected to improve AI processing, response accuracy, and optimize deployment for both cloud and edge computing environments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.