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 the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $1,400,061.60. Following the transaction, the chief executive officer now directly owns 1,764,166 shares in the company, valued at $17,782,793.28. The trade was a 7.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 shares were sold at an average price of $20.20, for a total transaction of $3,157,017.60.

SoundHound AI Stock Up 4.6 %

Shares of SOUN stock opened at $10.31 on Tuesday. The stock’s fifty day moving average price is $12.14 and its 200 day moving average price is $10.48. 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, Inc. has a 1-year low of $3.50 and a 1-year high of $24.98. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -28.64 and a beta of 2.62.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The company had revenue of $34.54 million for the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. On average, research analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in shares of SoundHound AI in the 4th quarter valued at $7,789,000. California State Teachers Retirement System increased its holdings in shares of SoundHound AI by 13.6% in the fourth quarter. California State Teachers Retirement System now owns 303,598 shares of the company’s stock valued at $6,023,000 after purchasing an additional 36,422 shares during the period. Objective Capital Management LLC raised its stake in shares of SoundHound AI by 25.0% in the fourth quarter. Objective Capital Management LLC now owns 25,000 shares of the company’s stock worth $496,000 after purchasing an additional 5,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of SoundHound AI by 171.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 69,831 shares of the company’s stock worth $1,385,000 after purchasing an additional 44,059 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in SoundHound AI in the fourth quarter valued at approximately $544,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SOUN. Wedbush increased their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. DA Davidson increased their target price on SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a research report on Monday, February 24th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, March 3rd. Finally, Northland Securities boosted their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.86.

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.