SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $2,460,238.20 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CEO Keyvan Mohajer sold 121,194 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $2,460,238.20. Following the completion of the sale, the chief executive officer now owns 2,177,954 shares of the company's stock, valued at approximately $44,212,466.20. This trade represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 transaction of $3,157,017.60.
• On Friday, December 6th, Keyvan Mohajer sold 368,041 shares of SoundHound AI stock. The stock was sold at an average price of $15.00, for a total transaction of $5,520,615.00.
• On Monday, December 9th, Keyvan Mohajer sold 465,394 shares of SoundHound AI stock. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76.

SoundHound AI Price Performance

Shares of SoundHound AI stock traded up $3.99 during mid-day trading on Thursday, reaching $24.23. 129,107,203 shares of the stock were exchanged, compared to its average volume of 41,064,262. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a market cap of $8.96 billion, a price-to-earnings ratio of -67.31 and a beta of 3.03. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $24.98. The firm has a 50-day simple moving average of $10.29 and a 200 day simple moving average of $6.67.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The business's revenue for the quarter was up 88.7% compared to the same quarter last year. On average, sell-side analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SOUN. DA Davidson reaffirmed a "buy" rating and issued a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. Wedbush raised their target price on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a report on Monday, December 16th. HC Wainwright raised their price objective on shares of SoundHound AI from $8.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday. LADENBURG THALM/SH SH restated a "neutral" rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Barclays reaffirmed a "neutral" rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.07.

Hedge Funds Weigh In On SoundHound AI

A number of large investors have recently modified their holdings of SOUN. Charles Schwab Investment Management Inc. raised its position in SoundHound AI by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company's stock worth $12,033,000 after purchasing an additional 189,109 shares during the last quarter. Carnegie Investment Counsel acquired a new stake in shares of SoundHound AI in the 3rd quarter valued at $4,193,000. FMR LLC raised its position in shares of SoundHound AI by 112.8% during the third quarter. FMR LLC now owns 49,038 shares of the company's stock worth $229,000 after acquiring an additional 25,989 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SoundHound AI by 9.1% during the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company's stock worth $33,529,000 after acquiring an additional 602,311 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of SoundHound AI during the third quarter valued at $305,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

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.