SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $2,380,959.36 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CEO Keyvan Mohajer sold 254,376 shares of SoundHound AI stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $9.36, for a total transaction of $2,380,959.36. Following the completion of the transaction, the chief executive officer now owns 1,749,790 shares of the company's stock, valued at $16,378,034.40. This represents a 12.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SoundHound AI Trading Up 3.5%

Shares of SOUN stock traded up $0.33 during trading hours on Tuesday, hitting $9.82. 48,185,773 shares of the company were exchanged, compared to its average volume of 39,212,397. SoundHound AI, Inc. has a 1 year low of $3.82 and a 1 year high of $24.98. The firm has a fifty day moving average of $9.61 and a 200 day moving average of $11.96.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. The firm had revenue of $29.13 million during the quarter, compared to the consensus estimate of $30.38 million. SoundHound AI had a negative net margin of 184.34% and a negative return on equity of 68.55%. The company's revenue was up 151.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. As a group, equities analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Trading of SoundHound AI

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its position in SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock valued at $25,000 after acquiring an additional 830 shares in the last quarter. Orion Capital Management LLC acquired a new stake in SoundHound AI in the fourth quarter valued at approximately $30,000. BIT Capital GmbH acquired a new stake in shares of SoundHound AI during the fourth quarter worth approximately $43,000. AlphaQuest LLC acquired a new stake in shares of SoundHound AI during the first quarter worth approximately $32,000. Finally, Larson Financial Group LLC grew its position in shares of SoundHound AI by 76.9% during the fourth quarter. Larson Financial Group LLC now owns 4,068 shares of the company's stock worth $81,000 after buying an additional 1,768 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company's stock.

Analyst Upgrades and Downgrades

SOUN has been the topic of several recent research reports. Wedbush dropped their price objective on shares of SoundHound AI from $22.00 to $15.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. DA Davidson lowered their price target on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. HC Wainwright decreased their price objective on shares of SoundHound AI from $26.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Cantor Fitzgerald upgraded shares of SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Finally, Piper Sandler began coverage on shares of SoundHound AI in a research report on Tuesday, May 27th. They issued an "overweight" rating and a $12.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.50.

SoundHound AI Company Profile

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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