SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 121,194 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 121,194 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction 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 stock was sold at an average price of $15.04, for a total value of $6,999,525.76.

SoundHound AI Stock Up 19.7 %

SoundHound AI stock opened at $24.23 on Friday. The firm’s 50 day moving average price is $10.29 and its two-hundred day moving average price is $6.67. The firm has a market cap of $8.96 billion, a PE ratio of -67.31 and a beta of 3.03. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month 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 announced its quarterly earnings data 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 business had revenue of $25.10 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 88.7% compared to the same quarter last year. During the same period last year, the company earned ($0.09) earnings per share. On average, research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

A number of hedge funds and other institutional investors have recently made changes to their positions in SOUN. Bank of New York Mellon Corp increased its holdings 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 worth $3,940,000 after buying an additional 479,912 shares during the last quarter. Harbour Investments Inc. lifted its stake in SoundHound AI by 5.1% in the second quarter. Harbour Investments Inc. now owns 59,746 shares of the company’s stock valued at $236,000 after acquiring an additional 2,923 shares during the last quarter. Principal Financial Group Inc. grew its position in SoundHound AI by 106.6% in the second quarter. Principal Financial Group Inc. now owns 38,340 shares of the company’s stock worth $151,000 after acquiring an additional 19,780 shares in the last quarter. Signaturefd LLC increased its stake 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 during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of SoundHound AI in the 2nd quarter valued at $31,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SOUN shares. DA Davidson reiterated a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. Wedbush raised their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. HC Wainwright boosted their price target on shares of SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a report on Monday. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Barclays reiterated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.07.

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.