SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $2,460,238.20 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 121,194 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $2,460,238.20. Following the transaction, the chief executive officer now directly owns 2,177,954 shares in the company, valued at $44,212,466.20. The trade was a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $3,157,017.60.
• On Friday, December 6th, Keyvan Mohajer sold 368,041 shares of SoundHound AI stock. The shares were sold at an average price of $15.00, for a total value of $5,520,615.00.
• On Monday, December 9th, Keyvan Mohajer sold 465,394 shares of SoundHound AI stock. The shares were sold at an average price of $15.04, for a total value of $6,999,525.76.

SoundHound AI Price Performance

Shares of SOUN stock traded up $3.99 during mid-day trading on Thursday, reaching $24.23. The company’s stock had a trading volume of 129,107,203 shares, compared to its average volume of 41,064,262. The firm’s 50-day moving average is $9.91 and its two-hundred day moving average is $6.54. The company has a market cap of $8.96 billion, a P/E ratio of -67.31 and a beta of 3.03. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. 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 (NASDAQ:SOUN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company’s quarterly revenue was up 88.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) earnings per share. On average, research analysts predict 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. HC Wainwright boosted their price objective on shares of SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday. DA Davidson reaffirmed a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a research report on Monday, September 30th. Wedbush increased their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, Barclays reaffirmed a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, SoundHound AI presently has an average rating of “Moderate Buy” and an average target price of $12.07.

Hedge Funds Weigh In On SoundHound AI

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in 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 valued at $3,940,000 after acquiring an additional 479,912 shares during the period. Harbour Investments Inc. boosted its stake in shares of SoundHound AI by 5.1% in the 2nd quarter. Harbour Investments Inc. now owns 59,746 shares of the company’s stock valued at $236,000 after purchasing an additional 2,923 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of SoundHound AI by 106.6% in the 2nd quarter. Principal Financial Group Inc. now owns 38,340 shares of the company’s stock worth $151,000 after purchasing an additional 19,780 shares during the last quarter. Signaturefd LLC increased its position in shares of SoundHound AI by 27.3% during the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after purchasing an additional 2,200 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in SoundHound AI during the 2nd quarter valued at about $31,000. 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.