Keyvan Mohajer Sells 138,895 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 138,895 shares of SoundHound AI stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the completion of the sale, the chief executive officer now owns 1,764,166 shares of the company’s stock, valued at $17,782,793.28. This trade represents a 7.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, March 20th, Keyvan Mohajer sold 118,605 shares of SoundHound AI stock. The shares were sold at an average price of $9.90, for a total value of $1,174,189.50.
• 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.

SoundHound AI Stock Performance

SOUN stock traded up $0.45 during trading on Monday, hitting $10.31. The company had a trading volume of 26,353,351 shares, compared to its average volume of 38,602,530. The firm has a 50-day moving average price of $12.19 and a 200-day moving average price of $10.44. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a market cap of $4.05 billion, a PE ratio of -28.64 and a beta of 2.62. SoundHound AI, Inc. has a 1-year low of $3.50 and a 1-year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). The business had revenue of $34.54 million for the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. On average, analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Northland Securities upped their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, March 3rd. Wedbush lifted their target price on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Finally, DA Davidson increased their price target on SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, SoundHound AI has an average rating of “Hold” and an average target price of $12.86.

Institutional Trading of SoundHound AI

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in shares of SoundHound AI by 230.9% in the 3rd quarter. Victory Capital Management Inc. now owns 120,812 shares of the company’s stock worth $563,000 after purchasing an additional 84,301 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in SoundHound AI by 11.0% in 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. Intech Investment Management LLC acquired a new stake in shares of SoundHound AI in the 3rd quarter worth about $305,000. Charles Schwab Investment Management Inc. raised its holdings in shares of SoundHound AI by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock valued at $12,033,000 after buying an additional 189,109 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in SoundHound AI during the 3rd quarter worth $431,000. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

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.