SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $6,999,525.76 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 465,394 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the transaction, the chief executive officer now owns 2,299,148 shares of the company’s stock, valued at approximately $34,579,185.92. This represents a 16.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 value of $5,520,615.00.
• On Monday, September 23rd, Keyvan Mohajer sold 63,544 shares of SoundHound AI stock. The shares were sold at an average price of $4.92, for a total transaction of $312,636.48.
• On Friday, September 20th, Keyvan Mohajer sold 90,641 shares of SoundHound AI stock. The stock was sold at an average price of $4.88, for a total transaction of $442,328.08.

SoundHound AI Stock Performance

SOUN stock opened at $13.67 on Friday. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -37.97 and a beta of 3.03. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $16.07. The business’s fifty day simple moving average is $7.23 and its two-hundred day simple moving average is $5.60.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company’s revenue was up 88.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On SoundHound AI

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. bought a new position in shares of SoundHound AI during the 3rd quarter worth $177,000. Sanctuary Advisors LLC grew its holdings in SoundHound AI by 13.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,976 shares of the company’s stock worth $140,000 after acquiring an additional 3,642 shares in the last quarter. Geode Capital Management LLC increased its position in SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after purchasing an additional 602,311 shares during the period. MML Investors Services LLC bought a new stake in shares of SoundHound AI in the 3rd quarter valued at about $86,000. Finally, State Street Corp lifted its position in shares of SoundHound AI by 0.6% in the 3rd quarter. State Street Corp now owns 7,197,414 shares of the company’s stock worth $33,540,000 after purchasing an additional 42,869 shares during the period. 19.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOUN has been the subject of several recent research reports. Barclays reiterated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright boosted their target price on SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wedbush restated an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research report on Thursday, September 26th. DA Davidson reiterated a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SoundHound AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.64.

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.