Keyvan Mohajer Sells 90,641 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 90,641 shares of SoundHound AI stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $442,328.08. Following the sale, the chief executive officer now directly owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, September 23rd, Keyvan Mohajer sold 63,544 shares of SoundHound AI stock. The stock was sold at an average price of $4.92, for a total value of $312,636.48.

SoundHound AI Stock Down 0.2 %

NASDAQ SOUN opened at $4.89 on Thursday. SoundHound AI, Inc. has a 12-month low of $1.49 and a 12-month high of $10.25. The firm’s 50 day moving average is $4.84 and its 200-day moving average is $4.97. The company has a market capitalization of $1.61 billion, a PE ratio of -12.87 and a beta of 2.74.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.09 million. SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The company’s quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share. As a group, sell-side analysts expect that SoundHound AI, Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its stake in shares of SoundHound AI by 17.3% in the first quarter. Ameritas Investment Partners Inc. now owns 13,561 shares of the company’s stock valued at $80,000 after buying an additional 2,000 shares in the last quarter. Genesee Capital Advisors LLC grew its position in shares of SoundHound AI by 11.4% in the 2nd quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock valued at $77,000 after acquiring an additional 2,000 shares during the period. Signaturefd LLC increased its stake in shares of SoundHound AI by 27.3% during the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after purchasing an additional 2,200 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of SoundHound AI by 24.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock valued at $46,000 after purchasing an additional 2,320 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of SoundHound AI by 13.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock valued at $82,000 after purchasing an additional 2,500 shares during the period. 19.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, September 18th. Cantor Fitzgerald raised shares of SoundHound AI from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.00 to $7.00 in a report on Friday, August 9th. Finally, Northland Securities raised their price objective on SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.08.

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.