Keyvan Mohajer Sells 368,041 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 368,041 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $15.00, for a total value of $5,520,615.00. Following the completion of the transaction, the chief executive officer now directly owns 2,299,148 shares in the company, valued at $34,487,220. The trade was a 13.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 9th, Keyvan Mohajer sold 465,394 shares of SoundHound AI stock. The stock was sold at an average price of $15.04, for a total value of $6,999,525.76.
• 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.
• On Friday, September 20th, Keyvan Mohajer sold 90,641 shares of SoundHound AI stock. The stock was sold at an average price of $4.88, for a total transaction of $442,328.08.

SoundHound AI Price Performance

Shares of SOUN opened at $13.67 on Friday. The stock has a market cap of $5.05 billion, a P/E ratio of -37.97 and a beta of 3.03. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $16.07. The stock’s 50-day moving average price is $7.23 and its two-hundred day moving average price is $5.60. 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 (NASDAQ:SOUN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. SoundHound AI’s revenue for the quarter was up 88.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, equities analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of SoundHound AI

Institutional investors have recently modified their holdings of the company. Carnegie Investment Counsel acquired a new stake in SoundHound AI in the 3rd quarter valued at approximately $4,193,000. Geode Capital Management LLC raised its holdings in shares of SoundHound AI by 9.1% in the third 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 last quarter. Bank of New York Mellon Corp lifted its position in shares of SoundHound AI by 92.7% in the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock worth $3,940,000 after purchasing an additional 479,912 shares in the last quarter. Shellback Capital LP acquired a new position in SoundHound AI during the second quarter worth $1,196,000. Finally, Squarepoint Ops LLC grew its position in SoundHound AI by 818.0% in the second quarter. Squarepoint Ops LLC now owns 231,168 shares of the company’s stock valued at $913,000 after purchasing an additional 205,985 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SOUN has been the topic of a number of research reports. Barclays reiterated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research report on Thursday, September 26th. LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright raised their price target on SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, DA Davidson reissued a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, SoundHound AI has a consensus rating of “Moderate Buy” and a consensus price target of $7.64.

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.