Keyvan Mohajer Sells 144,326 Shares of SoundHound AI (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 144,326 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $11.28, for a total transaction of $1,627,997.28. Following the sale, the chief executive officer directly owned 2,198,287 shares in the company, valued at approximately $24,796,677.36. The trade was a 6.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, October 8th, Keyvan Mohajer sold 118,654 shares of SoundHound AI stock. The shares were sold at an average price of $20.00, for a total transaction of $2,373,080.00.

SoundHound AI Trading Down 2.7%

SOUN stock traded down $0.29 on Monday, hitting $10.41. The company had a trading volume of 20,984,708 shares, compared to its average volume of 43,209,066. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -12.39 and a beta of 2.63. The stock’s 50-day simple moving average is $13.38 and its 200 day simple moving average is $13.46. SoundHound AI, Inc. has a 12-month low of $6.52 and a 12-month high of $23.50.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The firm had revenue of $42.05 million for the quarter, compared to the consensus estimate of $40.48 million. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The company’s revenue for the quarter was up 67.6% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. Research analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On SoundHound AI

A number of hedge funds have recently made changes to their positions in the business. Danske Bank A S bought a new stake in SoundHound AI during the 3rd quarter valued at approximately $26,000. Investors Research Corp grew its holdings in SoundHound AI by 62.4% during the 3rd quarter. Investors Research Corp now owns 1,822 shares of the company’s stock valued at $29,000 after buying an additional 700 shares in the last quarter. Financial Consulate Inc. purchased a new stake in SoundHound AI during the 3rd quarter valued at approximately $32,000. Sound Income Strategies LLC raised its position in shares of SoundHound AI by 37.3% during the third quarter. Sound Income Strategies LLC now owns 2,116 shares of the company’s stock valued at $34,000 after buying an additional 575 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SoundHound AI by 83.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company’s stock worth $25,000 after buying an additional 1,060 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SOUN. Piper Sandler raised their price objective on shares of SoundHound AI from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Oppenheimer started coverage on shares of SoundHound AI in a research report on Thursday, September 11th. They set a “market perform” rating for the company. LADENBURG THALM/SH SH upgraded SoundHound AI to a “strong-buy” rating in a research report on Thursday, December 18th. DA Davidson restated a “buy” rating and issued a $17.00 price target on shares of SoundHound AI in a research report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SoundHound AI in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.07.

About SoundHound AI

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.