Keyvan Mohajer Sells 138,523 Shares of SoundHound AI (NASDAQ:SOUN) Stock

Key Points

• Keyvan Mohajer, CEO of SoundHound AI, sold 138,523 shares of the company's stock for approximately $2.22 million, reducing his ownership by 5.33%.
• SoundHound AI's stock is currently valued at $17.78 after a decrease of 1.5%, with a market cap of $7.25 billion.
• Despite missing quarterly earnings estimates, the company's revenue increased by 216.3% year-over-year, totaling $42.68 million.

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CEO Keyvan Mohajer sold 138,523 shares of SoundHound AI stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $2,216,368.00. Following the completion of the sale, the chief executive officer owned 2,461,267 shares of the company's stock, valued at approximately $39,380,272. The trade was a 5.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

SoundHound AI Stock Down 1.5%

SOUN stock traded down $0.27 during midday trading on Wednesday, reaching $17.78. The stock had a trading volume of 63,330,567 shares, compared to its average volume of 45,588,484. The business has a fifty day simple moving average of $13.28 and a two-hundred day simple moving average of $10.89. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of -28.22 and a beta of 2.58. SoundHound AI, Inc. has a twelve month low of $4.45 and a twelve month high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The firm had revenue of $42.68 million during the quarter, compared to analyst estimates of $32.88 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. SoundHound AI's revenue for the quarter was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. On average, equities analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Northland Capmk upgraded SoundHound AI from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Oppenheimer initiated coverage on SoundHound AI in a report on Thursday, September 11th. They set a "market perform" rating on the stock. DA Davidson lifted their price objective on SoundHound AI from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Wall Street Zen cut SoundHound AI from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of SoundHound AI in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.36.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SOUN. Osaic Holdings Inc. lifted its position in SoundHound AI by 14.0% during the second quarter. Osaic Holdings Inc. now owns 498,691 shares of the company's stock worth $5,351,000 after purchasing an additional 61,212 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of SoundHound AI in the 2nd quarter valued at approximately $157,000. Newbridge Financial Services Group Inc. raised its position in shares of SoundHound AI by 6.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 31,050 shares of the company's stock valued at $333,000 after buying an additional 1,850 shares in the last quarter. Marex Group plc acquired a new position in shares of SoundHound AI in the 2nd quarter valued at approximately $3,728,000. Finally, Tyler Stone Wealth Management raised its position in shares of SoundHound AI by 20.7% in the 2nd quarter. Tyler Stone Wealth Management now owns 32,190 shares of the company's stock valued at $345,000 after buying an additional 5,510 shares in the last quarter. Institutional investors own 19.28% of the company's stock.

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.

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