Keyvan Mohajer Sells 118,654 Shares of SoundHound AI (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 118,654 shares of the firm’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 transaction, the chief executive officer directly owned 2,342,613 shares in the company, valued at $46,852,260. This represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $16.00, for a total value of $2,216,368.00.

SoundHound AI Trading Down 6.6%

SOUN opened at $17.36 on Friday. The business’s 50 day moving average is $14.80 and its 200-day moving average is $11.59. The stock 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 quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). The business had revenue of $42.68 million for the quarter, compared to the consensus estimate of $32.88 million. SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The business’s quarterly revenue was up 216.3% on a year-over-year basis. During the same period last year, the firm posted ($0.11) EPS. SoundHound AI has set its FY 2025 guidance at EPS. As a group, analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Northland Securities raised SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a report on Friday, August 8th. LADENBURG THALM/SH SH raised SoundHound AI from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $16.00 in a report on Monday, August 11th. DA Davidson raised their price objective on shares of SoundHound AI from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Northland Capmk upgraded shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundHound AI in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SoundHound AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.36.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SOUN. Northwestern Mutual Wealth Management Co. grew its position in 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 during the last quarter. Advisors Asset Management Inc. grew its position in SoundHound AI by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company’s stock worth $27,000 after buying an additional 1,023 shares during the last quarter. Investors Research Corp grew its position in SoundHound AI by 62.4% in the third quarter. Investors Research Corp now owns 1,822 shares of the company’s stock worth $29,000 after buying an additional 700 shares during the last quarter. AlphaQuest LLC acquired a new position in SoundHound AI in the first quarter worth approximately $32,000. Finally, Huntington National Bank grew its position in SoundHound AI by 48.8% in the second quarter. Huntington National Bank now owns 3,050 shares of the company’s stock worth $33,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

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.