SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 67,994 Shares

SoundHound AI, Inc. (NASDAQ:SOUNGet Free Report) CEO Keyvan Mohajer sold 67,994 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $4.04, for a total value of $274,695.76. Following the transaction, the chief executive officer now owns 1,069,837 shares in the company, valued at $4,322,141.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

  • On Monday, June 24th, Keyvan Mohajer sold 116,504 shares of SoundHound AI stock. The shares were sold at an average price of $3.95, for a total value of $460,190.80.

SoundHound AI Trading Down 0.5 %

SOUN stock traded down $0.02 during trading on Monday, hitting $3.98. The company had a trading volume of 10,098,857 shares, compared to its average volume of 43,024,262. The company has a quick ratio of 8.84, a current ratio of 8.84 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $4.63 and a 200-day moving average price of $4.03. SoundHound AI, Inc. has a 12 month low of $1.49 and a 12 month high of $10.25. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -10.39 and a beta of 2.87.

SoundHound AI (NASDAQ:SOUNGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The firm had revenue of $11.59 million during the quarter, compared to analysts’ expectations of $10.10 million. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. SoundHound AI’s revenue was up 72.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) EPS. As a group, analysts predict that SoundHound AI, Inc. will post -0.33 earnings per share for the current year.

Institutional Trading of SoundHound AI

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of SoundHound AI by 16.1% during the 1st quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock worth $94,655,000 after buying an additional 2,226,471 shares during the last quarter. Intrinsic Edge Capital Management LLC boosted its stake in shares of SoundHound AI by 47.7% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 4,848,211 shares of the company’s stock worth $10,278,000 after buying an additional 1,566,238 shares during the last quarter. Baupost Group LLC MA acquired a new position in shares of SoundHound AI during the 1st quarter worth about $6,659,000. Janus Henderson Group PLC boosted its stake in shares of SoundHound AI by 563.0% during the 1st quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock worth $2,843,000 after buying an additional 409,917 shares during the last quarter. Finally, Aristides Capital LLC acquired a new position in shares of SoundHound AI during the 1st quarter worth about $1,765,000. Institutional investors own 19.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a report on Monday, May 13th. Northland Securities restated a “market perform” rating on shares of SoundHound AI in a report on Wednesday, February 28th. Wedbush restated an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a report on Friday, May 10th. DA Davidson lifted their price objective on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Cantor Fitzgerald upgraded SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price objective on the stock in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.88.

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About SoundHound AI

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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.

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