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 the stock in a transaction dated 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 owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. 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 Monday, September 23rd, Keyvan Mohajer sold 63,544 shares of SoundHound AI stock. The shares were sold at an average price of $4.92, for a total value of $312,636.48.

SoundHound AI Trading Up 0.4 %

Shares of SOUN traded up $0.02 during trading hours on Tuesday, reaching $4.90. The stock had a trading volume of 11,923,487 shares, compared to its average volume of 36,062,578. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -12.66 and a beta of 2.74. The firm has a 50-day simple moving average of $4.87 and a 200 day simple moving average of $4.98. SoundHound AI, Inc. has a 12 month low of $1.49 and a 12 month high of $10.25.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SOUN shares. Cantor Fitzgerald raised 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 research note on Friday, August 9th. Wedbush reiterated an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research report on Friday, August 9th. Northland Securities increased their target price on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, SoundHound AI presently has an average rating of “Moderate Buy” and an average target price of $7.08.

Institutional Trading of SoundHound AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOUN. Kings Path Partners LLC purchased a new stake in shares of SoundHound AI in the second quarter valued at about $28,000. Hexagon Capital Partners LLC purchased a new stake in SoundHound AI in the 1st quarter valued at about $29,000. International Assets Investment Management LLC bought a new position in shares of SoundHound AI during the 2nd quarter worth approximately $31,000. HighPoint Advisor Group LLC purchased a new position in shares of SoundHound AI in the 4th quarter worth approximately $37,000. Finally, Amalgamated Bank grew its holdings in shares of SoundHound AI by 108.0% in the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after acquiring an additional 5,099 shares in the last quarter. 19.28% of the stock is owned by institutional investors.

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.