SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $1,174,189.50 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 118,605 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $1,174,189.50. Following the transaction, the chief executive officer now owns 1,903,061 shares in the company, valued at $18,840,303.90. This trade represents a 5.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, March 24th, Keyvan Mohajer sold 138,895 shares of SoundHound AI stock. The shares were sold at an average price of $10.08, for a total transaction of $1,400,061.60.
• 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 Stock Down 8.0 %

SoundHound AI stock opened at $9.38 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a one year low of $3.50 and a one year high of $24.98. The company has a 50-day simple moving average of $12.00 and a 200-day simple moving average of $10.52. The firm has a market capitalization of $3.74 billion, a P/E ratio of -26.06 and a beta of 2.62.

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 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 expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On SoundHound AI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kieckhefer Group LLC acquired a new stake in shares of SoundHound AI in the 4th quarter worth approximately $3,432,000. Charles Schwab Investment Management Inc. lifted its position in SoundHound AI by 7.9% in 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. Oriental Harbor Investment Fund bought a new position in SoundHound AI during the 4th quarter valued at $8,964,000. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 602,311 shares during the period. Finally, Wealth Effects LLC acquired a new position in shares of SoundHound AI during the 4th quarter valued at $357,000. Institutional investors own 19.28% of the company’s stock.

Analysts Set New Price Targets

SOUN has been the subject of several research reports. Northland Securities lifted their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. DA Davidson raised their price target on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Wedbush boosted their price objective 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. Finally, 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.86.

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.