Keyvan Mohajer Sells 156,288 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 156,288 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the completion of the transaction, the chief executive officer now owns 2,021,666 shares in the company, valued at approximately $40,837,653.20. The trade was a 7.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, December 20th, Keyvan Mohajer sold 121,194 shares of SoundHound AI stock. The shares were sold at an average price of $20.30, for a total value of $2,460,238.20.
• 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 Trading Down 1.2 %

SoundHound AI stock opened at $23.95 on Friday. The stock has a market cap of $8.86 billion, a P/E ratio of -66.53 and a beta of 3.03. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $24.98. The firm’s fifty day moving average price is $10.66 and its 200-day moving average price is $6.80. 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 released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business’s quarterly revenue was up 88.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Equities research analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOUN has been the topic of several research analyst reports. DA Davidson reiterated a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush boosted 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. HC Wainwright boosted 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. Finally, Barclays reissued a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, SoundHound AI presently has a consensus rating of “Moderate Buy” and an average price target of $12.07.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SOUN. Kings Path Partners LLC bought a new position in shares of SoundHound AI in the second quarter worth $28,000. International Assets Investment Management LLC bought a new position in SoundHound AI in the second quarter valued at $31,000. NBC Securities Inc. increased its stake in SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after acquiring an additional 3,818 shares during the last quarter. Amalgamated Bank increased its stake in SoundHound AI by 108.0% in the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after acquiring an additional 5,099 shares during the last quarter. Finally, Signaturefd LLC increased its stake in SoundHound AI by 27.3% in the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $41,000 after acquiring an additional 2,200 shares during 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.