SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 156,288 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 156,288 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total value of $3,157,017.60. Following the transaction, the chief executive officer now owns 2,021,666 shares in the company, valued at $40,837,653.20. This represents a 7.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, December 20th, Keyvan Mohajer sold 121,194 shares of SoundHound AI stock. The stock was sold at an average price of $20.30, for a total value of $2,460,238.20.
• On Friday, December 6th, Keyvan Mohajer sold 368,041 shares of SoundHound AI stock. The stock was 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 shares were sold at an average price of $15.04, for a total transaction of $6,999,525.76.

SoundHound AI Stock Performance

Shares of SoundHound AI stock opened at $24.23 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The business’s 50 day moving average price is $10.29 and its 200 day moving average price is $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. SoundHound AI, Inc. has a one year low of $1.62 and a one year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $23.02 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The company’s revenue was up 88.7% compared to the same quarter last year. On average, research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SOUN shares. Barclays restated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. HC Wainwright increased their price objective on SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a research note on Monday. Finally, DA Davidson reaffirmed a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, SoundHound AI has a consensus rating of “Moderate Buy” and a consensus price target of $12.07.

Institutional Trading of SoundHound AI

A number of hedge funds and other institutional investors have recently made changes to their positions in SOUN. Bank of New York Mellon Corp grew its position in SoundHound AI by 92.7% in the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock worth $3,940,000 after acquiring an additional 479,912 shares during the period. Harbour Investments Inc. raised its position in SoundHound AI by 5.1% in the second quarter. Harbour Investments Inc. now owns 59,746 shares of the company’s stock valued at $236,000 after purchasing an additional 2,923 shares during the period. Principal Financial Group Inc. lifted its stake in shares of SoundHound AI by 106.6% in the 2nd quarter. Principal Financial Group Inc. now owns 38,340 shares of the company’s stock valued at $151,000 after purchasing an additional 19,780 shares during the last quarter. Signaturefd LLC grew its holdings in shares of SoundHound AI by 27.3% during the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after purchasing an additional 2,200 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of SoundHound AI during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

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.