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

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 121,194 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were 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 of the company’s stock, valued at approximately $44,212,466.20. The trade was a 5.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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.
• 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 transaction 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 transaction of $6,999,525.76.

SoundHound AI Trading Down 1.2 %

Shares of SOUN opened at $23.95 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $6.80. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of -66.53 and a beta of 3.03.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.02 million. During the same period last year, the company posted ($0.09) EPS. The company’s revenue was up 88.7% on a year-over-year basis. Equities analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Trading of SoundHound AI

A number of hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its position in SoundHound AI by 11.0% during the third quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $89,000 after acquiring an additional 1,887 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in SoundHound AI by 13.0% during the third quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company’s stock worth $80,000 after acquiring an additional 1,975 shares during the last quarter. Signaturefd LLC boosted its position in SoundHound AI by 19.5% during the third quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock worth $57,000 after acquiring an additional 2,000 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in SoundHound AI by 24.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock worth $46,000 after acquiring an additional 2,320 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its position in SoundHound AI by 7.7% during the third quarter. Wolverine Asset Management LLC now owns 35,102 shares of the company’s stock worth $164,000 after acquiring an additional 2,522 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SOUN. Barclays reaffirmed a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. HC Wainwright increased their target price on shares of SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Wedbush increased their target price 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. DA Davidson reaffirmed a “buy” rating and issued a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Finally, LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.07.

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.