SoundHound AI (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 126,540 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 126,540 shares of SoundHound AI stock in a transaction on Monday, June 15th. The stock was sold at an average price of $7.46, for a total value of $943,988.40. Following the sale, the chief executive officer owned 1,947,237 shares in the company, valued at $14,526,388.02. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, March 20th, Keyvan Mohajer sold 124,510 shares of SoundHound AI stock. The stock was sold at an average price of $6.79, for a total value of $845,422.90.

SoundHound AI Stock Down 1.0%

SoundHound AI stock traded down $0.07 during midday trading on Wednesday, reaching $6.96. The stock had a trading volume of 19,183,094 shares, compared to its average volume of 25,995,096. SoundHound AI, Inc. has a 12 month low of $5.83 and a 12 month high of $22.17. The firm’s 50-day moving average price is $7.94 and its 200 day moving average price is $8.81. The firm has a market capitalization of $3.01 billion, a PE ratio of -14.81 and a beta of 2.56.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SoundHound AI had a negative return on equity of 40.15% and a negative net margin of 91.84%.The business had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $42.56 million. During the same quarter in the previous year, the business earned ($0.06) EPS. SoundHound AI’s revenue for the quarter was up 51.7% on a year-over-year basis. Equities research analysts expect that SoundHound AI, Inc. will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of SoundHound AI by 16.4% during the 3rd quarter. Vanguard Group Inc. now owns 43,457,569 shares of the company’s stock valued at $698,798,000 after buying an additional 6,132,648 shares in the last quarter. Morgan Stanley lifted its position in shares of SoundHound AI by 48.1% during the 4th quarter. Morgan Stanley now owns 8,987,522 shares of the company’s stock valued at $89,606,000 after buying an additional 2,917,280 shares in the last quarter. UBS Group AG lifted its position in shares of SoundHound AI by 77.6% during the 4th quarter. UBS Group AG now owns 6,124,283 shares of the company’s stock valued at $61,059,000 after buying an additional 2,676,707 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of SoundHound AI by 2,259.7% during the 4th quarter. Voloridge Investment Management LLC now owns 2,199,511 shares of the company’s stock valued at $21,929,000 after buying an additional 2,106,298 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of SoundHound AI during the 3rd quarter valued at about $21,679,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting SoundHound AI

Here are the key news stories impacting SoundHound AI this week:

• Positive Sentiment: Analysts and market commentary continue to point to SoundHound’s growth potential in conversational AI and enterprise voice solutions, with some bullish views centered on a longer-term revenue ramp.
• Neutral Sentiment: Several insider sales were disclosed, but the company stated they were for tax withholding related to vesting equity awards rather than open-market selling for discretionary reasons.
• Negative Sentiment: Multiple top executives sold shares in the same filing window, which can add pressure to sentiment and reinforce investor concern about the stock’s near-term valuation.
• Negative Sentiment: Recent coverage also emphasized that SoundHound AI trades at a premium, suggesting some investors may be questioning whether the current price fully reflects near-term execution risk.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. LADENBURG THALM/SH SH upgraded SoundHound AI to a “strong-buy” rating in a report on Wednesday, May 6th. HC Wainwright dropped their target price on SoundHound AI from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of SoundHound AI in a research report on Monday. DA Davidson reissued a “buy” rating and issued a $14.00 target price on shares of SoundHound AI in a research report on Wednesday, April 22nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $9.00 target price (down from $11.00) on shares of SoundHound AI in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.93.

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.