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 stock in a transaction dated Thursday, March 20th. The stock was 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 directly owns 1,903,061 shares in the company, valued at $18,840,303.90. This trade represents a 5.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 24th, Keyvan Mohajer sold 138,895 shares of SoundHound AI stock. The stock was sold at an average price of $10.08, for a total value 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 Price Performance

SoundHound AI stock opened at $10.31 on Tuesday. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98. The company’s 50 day moving average price is $12.14 and its two-hundred day moving average price is $10.48. 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 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 data on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business had revenue of $34.54 million during the quarter, compared to analysts’ expectations of $33.70 million. On average, equities analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of SoundHound AI

A number of large investors have recently added to or reduced their stakes in SOUN. Vanguard Group Inc. increased its stake in shares of SoundHound AI by 35.6% during the 4th quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company’s stock worth $635,508,000 after purchasing an additional 8,402,881 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in SoundHound AI in the fourth quarter worth $41,595,000. Invesco Ltd. raised its stake in shares of SoundHound AI by 1,386.2% in the fourth quarter. Invesco Ltd. now owns 1,382,371 shares of the company’s stock valued at $27,426,000 after buying an additional 1,289,360 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of SoundHound AI during the 4th quarter valued at $16,421,000. Finally, Capital Fund Management S.A. bought a new position in shares of SoundHound AI during the 4th quarter worth $16,092,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.