SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $3,157,017.60 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 156,288 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the sale, the chief executive officer now owns 2,021,666 shares in the company, valued at approximately $40,837,653.20. The trade was a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, December 20th, Keyvan Mohajer sold 121,194 shares of SoundHound AI stock. The shares were sold at an average price of $20.30, for a total transaction 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 SOUN opened at $23.95 on Friday. The stock has a market capitalization of $8.86 billion, a PE ratio of -66.53 and a beta of 3.03. The business’s fifty day moving average price is $10.66 and its 200 day moving average price is $6.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a 12-month low of $1.62 and a 12-month high of $24.98.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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 company had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same period last year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 88.7% on a year-over-year basis. Equities research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Hedge Funds Weigh In On SoundHound AI

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

Analyst Upgrades and Downgrades

SOUN has been the subject of several recent analyst reports. HC Wainwright raised their target price on SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Wedbush raised 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. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Barclays reissued a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, SoundHound AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.07.

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.