SoundHound AI VP sells $281,131 in stock

Published 24/03/2025, 23:46
SoundHound AI VP sells $281,131 in stock

Majid Emami (NSE:EMAM), Vice President of Engineering at SoundHound AI , Inc. (NASDAQ:SOUN), a company currently valued at $3.93 billion, recently sold 28,392 shares of the company’s Class A Common Stock, according to a regulatory filing. InvestingPro analysis indicates the stock has shown significant momentum, with a 110% gain over the past six months. The shares were sold at an average price of $9.9018, amounting to a total transaction value of $281,131. Following this sale, Emami retains ownership of 669,834 shares. The transaction was conducted to fulfill tax withholding obligations related to the vesting of restricted stock units. According to InvestingPro data, SOUN maintains a strong balance sheet with more cash than debt, though investors should note the stock’s high price volatility. InvestingPro offers 12 additional investment tips and a comprehensive analysis report for SOUN, helping investors make more informed decisions.

In other recent news, SoundHound AI reported its financial results for the fourth quarter and full year ending December 31, 2024, which showed significant sales momentum across various industries, prompting the company to revise its 2025 revenue guidance upwards. The new revenue forecast is between $157.0 million and $177.0 million, a slight increase from the previous estimate. The company’s expansion into sectors like automotive, healthcare, and energy has contributed to its impressive revenue growth, as noted by DA Davidson, which raised its price target on SoundHound shares to $13.00, maintaining a Buy rating. H.C. Wainwright also reaffirmed its Buy rating with a price target of $26.00, highlighting the company’s robust financial position and organic growth potential.

SoundHound AI is currently facing a delay in filing its Form 10-K for the fiscal year ending December 31, 2024, due to complexities arising from its acquisitions of Synq3, Inc. and Amelia Holdings, Inc. The company aims to file the report by March 18, 2025, within the allowed extension period. Despite the delay, the company continues to address material weaknesses in its internal control over financial reporting. Additionally, SoundHound AI has deepened its partnership with NVIDIA (NASDAQ:NVDA), integrating NVIDIA AI Enterprise software to enhance its voice AI solutions across various sectors, including automotive.

This collaboration is expected to improve AI processing and deployment, benefiting companies like Lucid Motors (NASDAQ:LCID), which uses SoundHound’s technology. The integration of NVIDIA’s AI software aims to optimize response accuracy and reduce latency, enhancing the overall voice experience. These developments reflect SoundHound’s strategic efforts to strengthen its market position and drive future growth.

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.