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 that occurred on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the completion of the sale, the chief executive officer now directly owns 1,764,166 shares in the company, valued at approximately $17,782,793.28. This trade represents a 7.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was sold at an average price of $20.20, for a total transaction of $3,157,017.60.

SoundHound AI Price Performance

SOUN stock opened at $10.20 on Wednesday. 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 company has a market capitalization of $4.01 billion, a P/E ratio of -28.33 and a beta of 2.62. The business has a 50 day simple moving average of $12.09 and a 200-day simple moving average of $10.52. SoundHound AI, Inc. has a twelve month low of $3.50 and a twelve month high of $24.98.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On SoundHound AI

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in SoundHound AI by 230.9% during the 3rd quarter. Victory Capital Management Inc. now owns 120,812 shares of the company’s stock valued at $563,000 after acquiring an additional 84,301 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of SoundHound AI by 11.0% during the third quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $89,000 after purchasing an additional 1,887 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of SoundHound AI during the third quarter worth approximately $305,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of SoundHound AI by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after purchasing an additional 189,109 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in SoundHound AI in the 3rd quarter valued at $431,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

About SoundHound AI

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.