SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 121,194 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 121,194 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $2,460,238.20. Following the sale, the chief executive officer now owns 2,177,954 shares of the company’s stock, valued at approximately $44,212,466.20. This represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Keyvan Mohajer also recently made the following trade(s):

• On Tuesday, December 24th, Keyvan Mohajer sold 156,288 shares of SoundHound AI stock. The stock was sold at an average price of $20.20, for a total value of $3,157,017.60.
• On Friday, December 6th, Keyvan Mohajer sold 368,041 shares of SoundHound AI stock. The shares were sold at an average price of $15.00, for a total transaction of $5,520,615.00.
• On Monday, December 9th, Keyvan Mohajer sold 465,394 shares of SoundHound AI stock. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76.

SoundHound AI Stock Performance

Shares of SOUN opened at $24.23 on Friday. The firm has a fifty day moving average of $10.29 and a 200-day moving average of $6.67. The company has a market cap of $8.96 billion, a price-to-earnings ratio of -67.31 and a beta of 3.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. During the same period in the previous year, the business posted ($0.09) EPS. SoundHound AI’s revenue was up 88.7% on a year-over-year basis. As a group, equities analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SOUN shares. HC Wainwright upped their target price on SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a research report on Monday. DA Davidson reiterated a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Barclays reiterated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Wedbush upped their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, SoundHound AI has a consensus rating of “Moderate Buy” and a consensus price target of $12.07.

Hedge Funds Weigh In On SoundHound AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOUN. Oppenheimer & Co. Inc. boosted its position in SoundHound AI by 11.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $89,000 after acquiring an additional 1,887 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in SoundHound AI by 13.0% in the third quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company’s stock worth $80,000 after purchasing an additional 1,975 shares during the period. Signaturefd LLC grew its position in SoundHound AI by 19.5% in the 3rd quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock valued at $57,000 after buying an additional 2,000 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in SoundHound AI by 24.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock valued at $46,000 after buying an additional 2,320 shares during the period. Finally, Wolverine Asset Management LLC raised its position in shares of SoundHound AI by 7.7% during the 3rd quarter. Wolverine Asset Management LLC now owns 35,102 shares of the company’s stock worth $164,000 after buying an additional 2,522 shares in the last quarter. 19.28% of the stock is owned by institutional investors.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service 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 Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.