SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $3,157,017.60 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 156,288 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total value of $3,157,017.60. Following the sale, the chief executive officer now owns 2,021,666 shares in the company, valued at $40,837,653.20. The trade was a 7.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was 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 transaction of $6,999,525.76.

SoundHound AI Price Performance

Shares of NASDAQ SOUN traded up $3.99 during midday trading on Thursday, reaching $24.23. 129,107,203 shares of the company were exchanged, compared to its average volume of 41,064,262. The stock’s 50-day moving average price is $9.91 and its 200-day moving average price is $6.54. The stock has a market cap of $8.96 billion, a P/E ratio of -67.31 and a beta of 3.03. SoundHound AI, Inc. has a one year low of $1.62 and a one year high of $24.98. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS 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) earnings per share. The business’s quarterly revenue was up 88.7% on a year-over-year basis. On average, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. purchased a new position in shares of SoundHound AI in the 3rd quarter worth about $177,000. Sanctuary Advisors LLC lifted its holdings in shares of SoundHound AI by 13.8% during the third quarter. Sanctuary Advisors LLC now owns 29,976 shares of the company’s stock valued at $140,000 after purchasing an additional 3,642 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SoundHound AI by 9.1% during the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after acquiring an additional 602,311 shares in the last quarter. MML Investors Services LLC purchased a new stake in SoundHound AI during the 3rd quarter valued at $86,000. Finally, State Street Corp boosted its stake in shares of SoundHound AI by 0.6% during the 3rd quarter. State Street Corp now owns 7,197,414 shares of the company’s stock worth $33,540,000 after acquiring an additional 42,869 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wedbush increased their price objective 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 restated a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. HC Wainwright increased their target price on SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a research note on Monday. LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, Barclays reiterated a “neutral” rating and issued 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 stock. Based on data from MarketBeat, SoundHound AI currently has an average 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.