Insider Selling: SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $3,157,017.60 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 156,288 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total transaction of $3,157,017.60. Following the completion of the transaction, the chief executive officer now owns 2,021,666 shares of the company’s stock, valued at $40,837,653.20. This represents a 7.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value of $2,460,238.20.
• 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 transaction of $5,520,615.00.
• On Monday, December 9th, Keyvan Mohajer sold 465,394 shares of SoundHound AI stock. The shares were sold at an average price of $15.04, for a total transaction of $6,999,525.76.

SoundHound AI Stock Performance

SoundHound AI stock opened at $23.95 on Friday. The stock has a fifty day moving average price of $10.66 and a 200 day moving average price of $6.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 52 week low of $1.62 and a 52 week high of $24.98. The firm has a market capitalization of $8.86 billion, a P/E ratio of -66.53 and a beta of 3.03.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same period in the prior year, the firm posted ($0.09) EPS. The company’s revenue was up 88.7% on a year-over-year basis. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of SoundHound AI

Institutional investors and hedge funds have recently made changes to their positions in the company. Kings Path Partners LLC purchased a new position in shares of SoundHound AI in the 2nd quarter worth about $28,000. International Assets Investment Management LLC purchased a new position in SoundHound AI in the second quarter valued at approximately $31,000. NBC Securities Inc. lifted its position in SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after buying an additional 3,818 shares in the last quarter. Amalgamated Bank grew its stake in SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after buying an additional 5,099 shares during the period. Finally, Signaturefd LLC increased its position in shares of SoundHound AI by 27.3% in the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after acquiring an additional 2,200 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Barclays reiterated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. DA Davidson reaffirmed a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. Finally, HC Wainwright boosted their target price on shares of SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.