GuruFocus - On August 20, 2024, Lawrence Marcus, Director at SoundHound AI Inc (NASDAQ:SOUN), sold 50,000 shares of the company at a price of $5.02 per share. The transaction was documented in a recent SEC Filing. Following this transaction, the insider now owns 74,038 shares of SoundHound AI Inc.
SoundHound AI Inc (NASDAQ:SOUN) specializes in developing voice-enabled AI and conversational intelligence technologies. The company's solutions are used across various applications, enabling businesses and consumers to interact with products and services through voice interfaces.
Over the past year, the insider has sold a total of 475,000 shares and has not purchased any shares. This recent sale is part of a broader trend observed within the company, where there have been 42 insider sells and no insider buys over the past year.
The shares of SoundHound AI Inc were trading at $5.02 on the day of the transaction, giving the company a market cap of approximately $1.76 billion. This valuation reflects the company's standing within the technology sector and its market position.
For further insights into the company's valuation metrics, such as GF Value, price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, potential investors and stakeholders are encouraged to review these metrics.
This insider selling activity could be of interest to current and potential investors, providing them with insights into insider confidence and potential future movements in SoundHound AI Inc's stock price.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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