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 on Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the sale, the chief executive officer now directly owns 1,764,166 shares in the company, valued at approximately $17,782,793.28. This trade represents a 7.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, March 20th, Keyvan Mohajer sold 118,605 shares of SoundHound AI stock. The stock was sold at an average price of $9.90, for a total transaction 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 Trading Down 1.1 %

NASDAQ SOUN opened at $10.20 on Wednesday. SoundHound AI, Inc. has a 12 month low of $3.50 and a 12 month high of $24.98. The stock has a market capitalization of $4.01 billion, a P/E ratio of -28.33 and a beta of 2.62. The firm’s 50-day moving average is $12.09 and its two-hundred day moving average is $10.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) EPS 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 company had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. On average, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Cantor Fitzgerald upgraded SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Northland Securities lifted their price target 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 upped 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. HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, March 3rd. Finally, DA Davidson boosted their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.86.

Hedge Funds Weigh In On SoundHound AI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares in the last quarter. Orion Capital Management LLC purchased a new position in SoundHound AI in the 4th quarter valued at approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of SoundHound AI in the fourth quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of SoundHound AI during the fourth quarter worth $40,000. 19.28% of the stock is currently owned by hedge funds and other 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.