SoundHound AI, Inc. (NASDAQ:SOUN) CEO Sells $460,190.80 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 116,504 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $3.95, for a total transaction of $460,190.80. Following the transaction, the chief executive officer now directly owns 953,333 shares of the company’s stock, valued at $3,765,665.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, June 20th, Keyvan Mohajer sold 67,994 shares of SoundHound AI stock. The shares were sold at an average price of $4.04, for a total value of $274,695.76.

SoundHound AI Trading Up 1.5 %

Shares of SoundHound AI stock opened at $3.98 on Thursday. The company’s 50-day moving average price is $4.63 and its 200-day moving average price is $4.06. The company has a current ratio of 8.84, a quick ratio of 8.84 and a debt-to-equity ratio of 0.56. SoundHound AI, Inc. has a 12-month low of $1.49 and a 12-month high of $10.25. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -10.47 and a beta of 2.87.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $10.10 million. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The business’s revenue for the quarter was up 72.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) EPS. On average, equities analysts expect that SoundHound AI, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

SOUN has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Monday, May 13th. DA Davidson upped their price objective on shares of SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a report on Friday, March 15th. Northland Securities reiterated a “market perform” rating on shares of SoundHound AI in a research note on Wednesday, February 28th. Cantor Fitzgerald upgraded shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target on the stock in a research note on Thursday, April 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.88.

Institutional Investors Weigh In On SoundHound AI

Large investors have recently added to or reduced their stakes in the business. Independent Advisor Alliance bought a new position in SoundHound AI in the 4th quarter worth about $28,000. IAM Advisory LLC bought a new position in shares of SoundHound AI in the fourth quarter worth approximately $29,000. Hexagon Capital Partners LLC purchased a new stake in SoundHound AI in the first quarter valued at approximately $29,000. HighPoint Advisor Group LLC bought a new stake in SoundHound AI during the fourth quarter valued at approximately $37,000. Finally, DecisionPoint Financial LLC purchased a new position in SoundHound AI in the 1st quarter worth approximately $40,000. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Company Profile

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.