Insider Selling: SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $460,190.80 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 116,504 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $3.95, for a total value of $460,190.80. Following the sale, the chief executive officer now owns 953,333 shares in the company, valued at approximately $3,765,665.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, June 20th, Keyvan Mohajer sold 67,994 shares of SoundHound AI stock. The stock was sold at an average price of $4.04, for a total transaction of $274,695.76.

SoundHound AI Price Performance

Shares of SoundHound AI stock opened at $3.98 on Thursday. The company has a 50-day simple moving average of $4.63 and a two-hundred day simple moving average of $4.06. SoundHound AI, Inc. has a twelve month low of $1.49 and a twelve month high of $10.25. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -10.47 and a beta of 2.87. The company has a quick ratio of 8.84, a current ratio of 8.84 and a debt-to-equity ratio of 0.56.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $11.59 million during the quarter, compared to the consensus estimate of $10.10 million. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The firm’s quarterly revenue was up 72.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) earnings per share. Analysts forecast that SoundHound AI, Inc. will post -0.33 EPS for the current year.

Institutional Trading of SoundHound AI

Several large investors have recently modified their holdings of the stock. Good Life Advisors LLC acquired a new position in SoundHound AI in the fourth quarter valued at about $174,000. PFG Investments LLC bought a new position in SoundHound AI in the first quarter valued at approximately $1,335,000. Vanguard Group Inc. raised its position in SoundHound AI by 18.6% during the third quarter. Vanguard Group Inc. now owns 13,166,989 shares of the company’s stock valued at $26,466,000 after purchasing an additional 2,064,340 shares in the last quarter. Quadrature Capital Ltd bought a new stake in SoundHound AI during the third quarter worth $457,000. Finally, Versor Investments LP acquired a new stake in shares of SoundHound AI in the 4th quarter valued at $128,000. 19.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SOUN. Wedbush reaffirmed an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a report on Friday, May 10th. DA Davidson upped their price objective on SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, March 15th. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a report on Monday, May 13th. Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target for the company in a report on Thursday, April 11th. Finally, Northland Securities reissued a “market perform” rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SoundHound AI presently has a consensus rating of “Moderate Buy” and an average price target of $6.88.

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.