SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 63,544 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 63,544 shares of SoundHound AI stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the transaction, the chief executive officer now directly owns 2,299,148 shares in the company, valued at $11,311,808.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, September 20th, Keyvan Mohajer sold 90,641 shares of SoundHound AI stock. The shares were sold at an average price of $4.88, for a total value of $442,328.08.

SoundHound AI Price Performance

SOUN opened at $4.90 on Wednesday. SoundHound AI, Inc. has a fifty-two week low of $1.49 and a fifty-two week high of $10.25. The company’s 50 day moving average price is $4.85 and its two-hundred day moving average price is $4.97. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -12.89 and a beta of 2.74.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $13.46 million during the quarter, compared to analyst estimates of $13.09 million. SoundHound AI had a negative net margin of 195.65% and a negative return on equity of 93.28%. The business’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. As a group, equities research analysts predict that SoundHound AI, Inc. will post -0.36 EPS for the current year.

Hedge Funds Weigh In On SoundHound AI

A number of hedge funds have recently made changes to their positions in SOUN. Hexagon Capital Partners LLC acquired a new position in shares of SoundHound AI in the 1st quarter worth approximately $29,000. DecisionPoint Financial LLC bought a new position in SoundHound AI during the first quarter worth $40,000. Kings Path Partners LLC acquired a new position in SoundHound AI in the second quarter valued at $28,000. International Assets Investment Management LLC bought a new stake in SoundHound AI during the second quarter valued at $31,000. Finally, Amalgamated Bank grew its holdings in SoundHound AI by 108.0% during the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after acquiring an additional 5,099 shares during the period. 19.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SOUN has been the subject of several recent analyst reports. Northland Securities upped their price objective on SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, September 18th. Wedbush reiterated an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a report on Friday, August 9th. Finally, Cantor Fitzgerald raised SoundHound AI from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $5.00 to $7.00 in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, SoundHound AI presently has an average rating of “Moderate Buy” and an average target price of $7.08.

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.