SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 95,000 Shares

SoundHound AI, Inc. (NASDAQ:SOUN – Get Rating) CEO Keyvan Mohajer sold 95,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $2.48, for a total transaction of $235,600.00. Following the sale, the chief executive officer now directly owns 1,075,000 shares in the company, valued at $2,666,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SoundHound AI Price Performance

Shares of SOUN opened at $1.91 on Wednesday. SoundHound AI, Inc. has a fifty-two week low of $0.93 and a fifty-two week high of $18.14. The firm’s 50 day moving average price is $2.48 and its 200 day moving average price is $2.39. The company has a market cap of $378.01 million, a P/E ratio of -0.77 and a beta of 0.54. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 5.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOUN. Northern Trust Corp acquired a new position in SoundHound AI during the 2nd quarter worth approximately $512,000. Virtu Financial LLC acquired a new position in SoundHound AI during the 2nd quarter worth approximately $44,000. Millennium Management LLC acquired a new position in SoundHound AI during the 2nd quarter worth approximately $293,000. State Street Corp acquired a new position in SoundHound AI during the 2nd quarter worth approximately $576,000. Finally, Cota Capital Management LLC acquired a new position in SoundHound AI during the 2nd quarter worth approximately $5,463,000. Institutional investors and hedge funds own 8.72% of the company’s stock.

Analysts Set New Price Targets

SOUN has been the topic of several recent research reports. Cantor Fitzgerald upped their target price on shares of SoundHound AI from $1.60 to $3.20 in a research note on Wednesday, March 8th. Northland Securities cut their target price on shares of SoundHound AI from $6.00 to $4.50 in a research note on Friday, January 6th.

SoundHound AI Company Profile

(Get Rating)

SoundHound AI, Inc develops independent voice artificial intelligence (AI) platform that enables businesses across 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 automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions The company is headquartered in Santa Clara, California.