SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 118,605 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 118,605 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $1,174,189.50. Following the transaction, the chief executive officer now owns 1,903,061 shares of the company’s stock, valued at approximately $18,840,303.90. This trade represents a 5.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, March 24th, Keyvan Mohajer sold 138,895 shares of SoundHound AI stock. The shares were sold at an average price of $10.08, for a total transaction of $1,400,061.60.
• 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 value of $3,157,017.60.

SoundHound AI Stock Up 4.6 %

SoundHound AI stock traded up $0.45 during mid-day trading on Monday, hitting $10.31. 26,353,351 shares of the company’s stock were exchanged, compared to its average volume of 38,602,530. SoundHound AI, Inc. has a 1-year low of $3.50 and a 1-year high of $24.98. The stock has a 50 day moving average of $12.19 and a two-hundred day moving average of $10.44. The stock has a market cap of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.62. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last issued 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 company had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. As a group, analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On SoundHound AI

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in SoundHound AI by 35.6% in the 4th quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company’s stock valued at $635,508,000 after buying an additional 8,402,881 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of SoundHound AI by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 7,509,496 shares of the company’s stock valued at $149,024,000 after buying an additional 315,897 shares during the period. State Street Corp grew its position in SoundHound AI by 0.6% during the third quarter. State Street Corp now owns 7,197,414 shares of the company’s stock worth $33,540,000 after buying an additional 42,869 shares in the last quarter. Northern Trust Corp increased its stake in SoundHound AI by 10.0% during the fourth quarter. Northern Trust Corp now owns 2,906,245 shares of the company’s stock valued at $57,660,000 after acquiring an additional 264,382 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in SoundHound AI by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,725,693 shares of the company’s stock valued at $54,078,000 after acquiring an additional 143,487 shares during the period. 19.28% of the stock is currently owned by institutional investors.

About SoundHound AI

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.