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 dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value 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 document filed with the SEC, which can be accessed through the SEC website.

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 transaction of $3,157,017.60.

SoundHound AI Stock Down 8.0 %

Shares of NASDAQ SOUN opened at $9.38 on Thursday. The stock has a fifty day moving average price of $12.00 and a 200 day moving average price of $10.52. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month high of $24.98. The company has a market cap of $3.74 billion, a P/E ratio of -26.06 and a beta of 2.62.

SoundHound AI (NASDAQ:SOUN) last posted its 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 company had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. Research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

SOUN has been the topic of a number of research analyst reports. DA Davidson lifted their price target 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. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a report on Monday, March 3rd. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Cantor Fitzgerald upgraded SoundHound AI to a “hold” rating in a report on Monday, February 24th. Finally, Northland Securities boosted their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.86.

Institutional Trading of SoundHound AI

A number of hedge funds have recently made changes to their positions in SOUN. Blue Trust Inc. boosted its stake in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares during the period. Sound Income Strategies LLC lifted its holdings in SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares in the last quarter. Orion Capital Management LLC purchased a new position in SoundHound AI in the 4th quarter valued at about $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI during the fourth quarter valued at about $40,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of SoundHound AI in the fourth quarter worth about $40,000. 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.