SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $192,523.20 in Stock

SoundHound AI, Inc. (NASDAQ:SOUNGet Free Report) CEO Keyvan Mohajer sold 31,665 shares of SoundHound AI stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $6.08, for a total value of $192,523.20. Following the sale, the chief executive officer now directly owns 1,137,831 shares in the company, valued at approximately $6,918,012.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Tuesday, March 19th, Keyvan Mohajer sold 48,837 shares of SoundHound AI stock. The shares were sold at an average price of $8.37, for a total value of $408,765.69.
  • On Tuesday, March 12th, Keyvan Mohajer sold 379 shares of SoundHound AI stock. The shares were sold at an average price of $6.16, for a total value of $2,334.64.
  • On Thursday, February 15th, Keyvan Mohajer sold 107,927 shares of SoundHound AI stock. The shares were sold at an average price of $3.70, for a total value of $399,329.90.

SoundHound AI Stock Performance

NASDAQ SOUN opened at $6.14 on Monday. The company has a market cap of $1.90 billion, a P/E ratio of -15.74 and a beta of 2.84. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.69 and a current ratio of 4.69. The business’s 50 day moving average price is $4.12 and its 200-day moving average price is $2.75. SoundHound AI, Inc. has a fifty-two week low of $1.49 and a fifty-two week high of $10.25.

SoundHound AI (NASDAQ:SOUNGet Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $17.10 million for the quarter, compared to the consensus estimate of $17.75 million. SoundHound AI had a negative net margin of 188.57% and a negative return on equity of 1,955.68%. The business’s revenue for the quarter was up 80.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) EPS. Sell-side analysts predict that SoundHound AI, Inc. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On SoundHound AI

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in SoundHound AI by 1,238.7% during the 4th quarter. Bank of America Corp DE now owns 14,726 shares of the company’s stock valued at $26,000 after acquiring an additional 13,626 shares during the period. Independent Advisor Alliance purchased a new position in SoundHound AI during the 4th quarter valued at $28,000. Two Sigma Securities LLC purchased a new position in SoundHound AI during the 1st quarter valued at $28,000. IAM Advisory LLC purchased a new position in SoundHound AI during the 4th quarter valued at $29,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in SoundHound AI during the 4th quarter valued at $32,000. Institutional investors own 26.96% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on SOUN shares. Cantor Fitzgerald reissued an “underweight” rating and set a $4.90 target price (down previously from $5.80) on shares of SoundHound AI in a research note on Wednesday, March 20th. Northland Securities reaffirmed a “market perform” rating on shares of SoundHound AI in a research note on Wednesday, February 28th. Wedbush lifted their price objective on SoundHound AI from $5.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. LADENBURG THALM/SH SH assumed coverage on SoundHound AI in a research note on Tuesday, January 30th. They issued a “buy” rating and a $4.00 price objective on the stock. Finally, HC Wainwright lifted their price objective on SoundHound AI from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.88.

Check Out Our Latest Analysis on SOUN

About SoundHound AI

(Get Free Report)

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.

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