Keyvan Mohajer Sells 156,288 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CEO Keyvan Mohajer sold 156,288 shares of the business's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total value of $3,157,017.60. Following the sale, the chief executive officer now owns 2,021,666 shares in the company, valued at $40,837,653.20. The trade was a 7.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, December 20th, Keyvan Mohajer sold 121,194 shares of SoundHound AI stock. The stock was sold at an average price of $20.30, for a total transaction of $2,460,238.20.
• On Friday, December 6th, Keyvan Mohajer sold 368,041 shares of SoundHound AI stock. The shares were 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 Stock Performance

Shares of NASDAQ SOUN traded up $3.99 during midday 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 quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -67.31 and a beta of 3.03. The firm has a 50-day simple moving average of $10.29 and a two-hundred day simple moving average of $6.67. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm's revenue was up 88.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) earnings per share. As a group, analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

SOUN has been the subject of a number of research analyst reports. DA Davidson restated a "buy" rating and issued a $9.50 target price on shares of SoundHound AI in a research note on Monday, September 30th. HC Wainwright lifted their target price on SoundHound AI from $8.00 to $26.00 and gave the stock a "buy" rating in a report on Monday. Barclays reiterated a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush lifted 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. Finally, LADENBURG THALM/SH SH reiterated a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, SoundHound AI has a consensus rating of "Moderate Buy" and a consensus price target of $12.07.

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.