SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 138,895 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 138,895 shares of SoundHound AI 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 sale, the chief executive officer now owns 1,764,166 shares in the company, valued at approximately $17,782,793.28. The trade was a 7.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, March 20th, Keyvan Mohajer sold 118,605 shares of SoundHound AI stock. The stock was 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 Stock Performance

NASDAQ:SOUN opened at $10.31 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The stock’s fifty day moving average is $12.14 and its 200 day moving average is $10.48. The firm has a market capitalization of $4.05 billion, a PE ratio of -28.64 and a beta of 2.62. SoundHound AI, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its 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). The firm had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. On average, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SOUN. Cantor Fitzgerald upgraded SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Northland Securities increased their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a report on Monday, March 3rd. Finally, 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.86.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kieckhefer Group LLC purchased a new position in SoundHound AI during the 4th quarter valued at $3,432,000. Charles Schwab Investment Management Inc. lifted its position 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 last quarter. Oriental Harbor Investment Fund purchased a new position in SoundHound AI in the 4th quarter worth about $8,964,000. Geode Capital Management LLC lifted its holdings in SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after buying an additional 602,311 shares in the last quarter. Finally, Wealth Effects LLC purchased a new stake in SoundHound AI in the 4th quarter valued at about $357,000. Institutional investors 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.