SoundHound AI (NASDAQ:SOUN) share price down 1.8% after insider sales

SoundHound AI, Inc. (NASDAQ:SOUN – Free Report) fell 1.8% during midday trading on Tuesday after insiders sold. The company traded as low as $3.86 and was last seen at $3.91. 2,619,193 shares changed hands during trading, a 94% decline from the average session volume of 42,690,980 shares. The stock had previously closed at $3.98.

Specifically, CEO Keyvan Mohajer sold 116,504 shares of the company’s stock on Monday, June 24. The shares were sold at an average price of $3.95, for a total transaction of $460,190.80. Following the transaction, the CEO now owns 953,333 shares of the company’s stock, valued at $3,765,665.35. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Keyvan Mohajer sold 116,504 shares of the company’s stock on Monday, June 24. The shares were sold at an average price of $3.95, for a total transaction of $460,190.80. Following the sale, the CEO now owns 953,333 shares of the company’s stock, valued at $3,765,665.35. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, CFO Nitesh Sharan sold 22,384 shares of the company’s stock in a transaction dated Thursday, June 20. The shares were sold at an average price of $4.04, for a total value of $90,431.36. Following the sale, the chief financial officer now directly owns 728,633 shares of the company’s stock, valued at approximately $2,943,677.32. The disclosure regarding this sale can be found here. During the last quarter, insiders sold 417,728 shares of the company’s stock, valued at $1,815,476. Insiders own 21.30% of the company’s stock.

Upgrades and downgrades by analysts

SOUN has been the subject of a number of research analyst reports. Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target on the stock in a research report on Thursday, April 11. Wedbush reiterated an “outperform” rating and a $9.00 price target on shares of SoundHound AI in a research report on Friday, May 10. HC Wainwright reiterated a “buy” rating and a $7.00 price target on shares of SoundHound AI in a research report on Monday, May 13. DA Davidson raised their price target on SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, March 15. Finally, Northland Securities reiterated a “market perform” rating on shares of SoundHound AI in a research report on Wednesday, February 28. Two analysts have rated the stock with a “hold” rating and four have given the company’s stock a “buy” rating. Based on data from MarketBeat, the stock currently has a consensus rating of “moderate buy” and a consensus price target of $6.88.

Get our latest stock report on SOUN

SoundHound AI Value for money

The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -10.32, and a beta of 2.87. The company has a 50-day moving average of $4.63 and a 200-day moving average of $4.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 8.84, and a current ratio of 8.84.

SoundHound AI (NASDAQ:SOUN – Get Free Report) last released its quarterly earnings results on Thursday, May 9. The company reported earnings per share of -$0.07 for the quarter, beating the consensus estimate of -$0.09 by $0.02. The company had revenue of $11.59 million during the quarter, compared to analyst estimates of $10.10 million. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The company’s quarterly revenue grew by 72.9% year-over-year. During the same quarter last year, the company generated earnings per share of -$0.12. As a group, equities analysts forecast that SoundHound AI, Inc. will post earnings per share of -$0.33 for the current year.

Institutional inflows and outflows

Several institutional investors have recently made changes to their positions in SOUN. Independent Advisor Alliance acquired a new position in shares of SoundHound AI in the 4th quarter valued at approximately $28,000. IAM Advisory LLC acquired a new position in shares of SoundHound AI in the 4th quarter valued at approximately $29,000. Hexagon Capital Partners LLC acquired a new position in shares of SoundHound AI in the 1st quarter valued at approximately $29,000. HighPoint Advisor Group LLC acquired a new position in shares of SoundHound AI in the 4th quarter valued at approximately $37,000. Finally, DecisionPoint Financial LLC acquired a new position in shares of SoundHound AI in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI company profile

(Get free report)

SoundHound AI, Inc. develops independent artificial voice intelligence (AI) solutions that enable automotive, television, IoT and customer service companies to deliver high-quality conversational experiences to their customers. Its products include the Houndify Platform, which provides a set of Houndify tools that brands can use to build conversational voice assistants, such as application programming interfaces (APIs) for text and voice queries, support for custom commands, an extensive library of content domains, including software development kit platforms, collaboration capabilities, diagnostic tools and built-in analytics; SoundHound Chat AI, which integrates with knowledge domains and pulls real-time data such as weather, sports, stocks, flight status and restaurants; and SoundHound Smart Answering, designed to provide custom AI-powered voice assistants to customer establishments.