SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $442,328.08 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 90,641 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $442,328.08. Following the completion of the sale, the chief executive officer now owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, September 23rd, Keyvan Mohajer sold 63,544 shares of SoundHound AI stock. The shares were sold at an average price of $4.92, for a total value of $312,636.48.

SoundHound AI Trading Up 0.4 %

Shares of NASDAQ SOUN opened at $4.91 on Friday. The company has a 50 day simple moving average of $4.84 and a two-hundred day simple moving average of $4.97. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -12.92 and a beta of 2.74. SoundHound AI, Inc. has a 12 month low of $1.49 and a 12 month high of $10.25.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The business had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $13.09 million. SoundHound AI had a negative net margin of 195.65% and a negative return on equity of 93.28%. SoundHound AI’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. Analysts forecast that SoundHound AI, Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. grew its stake in shares of SoundHound AI by 24.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock worth $46,000 after purchasing an additional 2,320 shares during the period. Sanctuary Advisors LLC acquired a new stake in SoundHound AI during the second quarter valued at $104,000. Truist Financial Corp increased its holdings in SoundHound AI by 432.9% in the second quarter. Truist Financial Corp now owns 96,729 shares of the company’s stock valued at $382,000 after buying an additional 125,785 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of SoundHound AI in the second quarter worth about $113,000. Finally, Algert Global LLC purchased a new stake in shares of SoundHound AI during the 2nd quarter worth about $103,000. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on SOUN. Northland Securities increased their price target on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, September 18th. Cantor Fitzgerald raised shares of SoundHound AI from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.00 to $7.00 in a research report on Friday, August 9th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.08.

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.