SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $1,400,061.60 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 138,895 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the sale, the chief executive officer now owns 1,764,166 shares of the company’s stock, valued at approximately $17,782,793.28. This represents a 7.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Thursday, March 20th, Keyvan Mohajer sold 118,605 shares of SoundHound AI stock. The shares were sold at an average price of $9.90, for a total transaction of $1,174,189.50.
• On Tuesday, December 24th, Keyvan Mohajer sold 156,288 shares of SoundHound AI stock. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60.

SoundHound AI Price Performance

Shares of NASDAQ:SOUN opened at $9.38 on Thursday. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.74 billion, a PE ratio of -26.06 and a beta of 2.62. The firm has a 50 day moving average of $12.00 and a 200-day moving average of $10.52. SoundHound AI, Inc. has a 12 month low of $3.50 and a 12 month high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The company had revenue of $34.54 million for the quarter, compared to analyst estimates of $33.70 million. On average, equities research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on SOUN. Northland Securities boosted their price target on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. DA Davidson upped their price target on shares of SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research note on Monday, March 3rd. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Finally, Wedbush lifted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, SoundHound AI presently has an average rating of “Hold” and a consensus target price of $12.86.

Hedge Funds Weigh In On SoundHound AI

Several hedge funds and other institutional investors have recently bought and sold shares of SOUN. Vanguard Group Inc. grew its stake in shares of SoundHound AI by 35.6% in the 4th quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company’s stock valued at $635,508,000 after buying an additional 8,402,881 shares during the period. Rockefeller Capital Management L.P. bought a new stake in SoundHound AI during the fourth quarter worth $41,595,000. Invesco Ltd. raised its stake in shares of SoundHound AI by 1,386.2% during the 4th quarter. Invesco Ltd. now owns 1,382,371 shares of the company’s stock worth $27,426,000 after purchasing an additional 1,289,360 shares during the period. Driehaus Capital Management LLC purchased a new position in SoundHound AI in the fourth quarter valued at about $16,421,000. Finally, Capital Fund Management S.A. purchased a new position in SoundHound AI in the fourth quarter valued at approximately $16,092,000. 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.