SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 118,605 Shares

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CEO Keyvan Mohajer sold 118,605 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $1,174,189.50. Following the transaction, the chief executive officer now directly owns 1,903,061 shares of the company's stock, valued at approximately $18,840,303.90. This represents a 5.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 24th, Keyvan Mohajer sold 138,895 shares of SoundHound AI stock. The shares were sold at an average price of $10.08, for a total value of $1,400,061.60.
• On Tuesday, December 24th, Keyvan Mohajer sold 156,288 shares of SoundHound AI stock. The stock was sold at an average price of $20.20, for a total value of $3,157,017.60.

SoundHound AI Stock Down 5.3 %

NASDAQ SOUN traded down $0.50 on Thursday, hitting $8.88. 15,602,424 shares of the company were exchanged, compared to its average volume of 38,204,952. 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 $3.54 billion, a PE ratio of -24.67 and a beta of 2.62. The stock has a fifty day moving average of $12.00 and a 200-day moving average of $10.52. SoundHound AI, Inc. has a 12 month low of $3.50 and a 12 month high of $24.98.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of SoundHound AI by 197.6% during 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. Sound Income Strategies LLC grew its position in SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock valued at $26,000 after purchasing an additional 1,271 shares during the period. Orion Capital Management LLC bought a new stake in SoundHound AI during the 4th quarter valued at $30,000. Future Financial Wealth Managment LLC acquired a new position in SoundHound AI during the fourth quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in SoundHound AI during the fourth quarter worth $40,000. Institutional investors own 19.28% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. DA Davidson upped their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wedbush lifted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Northland Securities upped their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Tuesday, January 14th. Finally, Cantor Fitzgerald raised SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $12.86.

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.