SoundHound AI (NASDAQ:SOUN) CEO Sells $2,373,080.00 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 118,654 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total transaction of $2,373,080.00. Following the completion of the sale, the chief executive officer owned 2,342,613 shares in the company, valued at approximately $46,852,260. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, September 22nd, Keyvan Mohajer sold 138,523 shares of SoundHound AI stock. The stock was sold at an average price of $16.00, for a total value of $2,216,368.00.

SoundHound AI Stock Down 6.6%

SOUN stock opened at $17.36 on Monday. The business has a 50 day moving average of $14.80 and a 200 day moving average of $11.61. The firm has a market cap of $7.08 billion, a PE ratio of -27.56 and a beta of 2.60. SoundHound AI, Inc. has a twelve month low of $4.74 and a twelve month high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The company had revenue of $42.68 million during the quarter, compared to analysts’ expectations of $32.88 million. During the same period in the prior year, the company posted ($0.11) earnings per share. The company’s revenue was up 216.3% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. On average, research analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoundHound AI

A number of hedge funds have recently added to or reduced their stakes in SOUN. Vanguard Group Inc. boosted its stake in shares of SoundHound AI by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 35,059,943 shares of the company’s stock worth $284,687,000 after buying an additional 3,028,281 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in SoundHound AI by 84.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,973,728 shares of the company’s stock valued at $40,390,000 after acquiring an additional 2,274,105 shares during the period. HRT Financial LP purchased a new position in SoundHound AI in the second quarter worth about $11,914,000. Goldman Sachs Group Inc. grew its stake in shares of SoundHound AI by 69.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company’s stock valued at $21,434,000 after purchasing an additional 1,085,473 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of SoundHound AI during the 1st quarter valued at about $7,406,000. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of SoundHound AI in a research note on Wednesday, September 17th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a report on Saturday, September 27th. Wedbush reiterated an “outperform” rating and set a $16.00 target price on shares of SoundHound AI in a research note on Thursday, September 11th. DA Davidson lifted their target price on SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, Wall Street Zen downgraded SoundHound AI from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.36.

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.