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

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 63,544 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $4.92, for a total value of $312,636.48. Following the transaction, the chief executive officer now owns 2,299,148 shares in the company, valued at approximately $11,311,808.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 value of $442,328.08.

SoundHound AI Price Performance

Shares of SoundHound AI stock traded up $0.02 during trading on Tuesday, hitting $4.90. The company’s stock had a trading volume of 11,923,487 shares, compared to its average volume of 36,062,578. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -12.66 and a beta of 2.74. SoundHound AI, Inc. has a 52 week low of $1.49 and a 52 week high of $10.25. The stock has a 50-day moving average price of $4.87 and a two-hundred day moving average price of $4.98.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, September 18th. Wedbush reissued an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a report on Friday, August 9th. Cantor Fitzgerald raised shares of SoundHound AI from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $5.00 to $7.00 in a report on Friday, August 9th. Finally, Northland Securities increased their price objective on shares of SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, SoundHound AI currently has a consensus rating of “Moderate Buy” and an average price target of $7.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC bought a new stake in shares of SoundHound AI during the 1st quarter valued at about $29,000. DecisionPoint Financial LLC acquired a new stake in shares of SoundHound AI during the 1st quarter worth approximately $40,000. Kings Path Partners LLC bought a new stake in shares of SoundHound AI in the 2nd quarter valued at $28,000. International Assets Investment Management LLC acquired a new position in shares of SoundHound AI during the 2nd quarter valued at $31,000. Finally, Amalgamated Bank boosted its stake in SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after acquiring an additional 5,099 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

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.