SoundHound AI (NASDAQ:SOUN) CEO Keyvan Mohajer Sells 137,290 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 137,290 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $6.33, for a total transaction of $869,045.70. Following the completion of the transaction, the chief executive officer owned 3,684,947 shares of the company’s stock, valued at $23,325,714.51. This represents a 3.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SoundHound AI Stock Up 1.2%

Shares of NASDAQ SOUN opened at $6.00 on Friday. SoundHound AI, Inc. has a 52 week low of $5.65 and a 52 week high of $22.17. The firm has a 50-day moving average price of $6.69 and a 200 day moving average price of $7.22. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -15.79 and a beta of 2.66.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. SoundHound AI had a negative net margin of 67.45% and a negative return on equity of 30.22%. The firm had revenue of $61.90 million for the quarter, compared to the consensus estimate of $52.38 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The firm’s revenue was up 45.0% on a year-over-year basis. Equities research analysts expect that SoundHound AI, Inc. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

SOUN has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a report on Friday, September 11th. Wall Street Zen raised SoundHound AI from a “strong sell” rating to a “sell” rating in a report on Sunday, September 13th. DA Davidson decreased their target price on SoundHound AI from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Piper Sandler lowered their target price on SoundHound AI from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Key Stories Impacting SoundHound AI

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

• Positive Sentiment: Analysts cited by American Banking News assign SoundHound an average price target of $13.00, substantially above recent trading levels. This suggests potential upside if the company delivers on its growth plans. SoundHound AI Receives $13.00 Average Price Target from Analysts
• Positive Sentiment: SoundHound’s Asia business has extended its deal momentum to five consecutive quarters, with additional wins in China and India and continued expansion of its OASYS automotive platform. The developments support the company’s international growth and automotive AI opportunity. SoundHound Asia Growth Extends to 5 Quarters
• Neutral Sentiment: A comparison with NVIDIA highlights SoundHound’s rapid growth and narrowing losses, but also its much smaller scale, narrower voice-AI focus and lack of profitability. Investors may view the company as a higher-risk growth alternative within the AI sector. SoundHound vs. NVIDIA After Earnings
• Negative Sentiment: CEO Keyvan Mohajer, COO Michael Zagorsek, SVP Majid Emami and insider James Hom collectively sold about 285,863 shares at an average price of $6.33. The filings state the sales were made to cover tax withholding tied to vested equity awards, which reduces their bearish significance, although the volume may still weigh on sentiment. SoundHound Insider Sale Filing
• Negative Sentiment: SoundHound has recently declined alongside other speculative software names, including UiPath and C3.ai, despite broader market resilience. The sector-wide selling reflects investor caution toward unprofitable, high-volatility AI stocks and remains a headwind for SOUN. SoundHound AI Drops as Speculative Software Selling Intensifies

Institutional Trading of SoundHound AI

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of SoundHound AI by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 9,180,321 shares of the company’s stock worth $91,543,000 after purchasing an additional 273,097 shares in the last quarter. Swiss National Bank raised its position in shares of SoundHound AI by 3.7% during the 1st quarter. Swiss National Bank now owns 767,100 shares of the company’s stock worth $5,270,000 after purchasing an additional 27,300 shares during the last quarter. California State Teachers Retirement System lifted its stake in SoundHound AI by 25.0% in the 1st quarter. California State Teachers Retirement System now owns 440,023 shares of the company’s stock valued at $3,023,000 after buying an additional 87,998 shares in the last quarter. Virtu Financial LLC lifted its stake in SoundHound AI by 43.9% in the 4th quarter. Virtu Financial LLC now owns 219,773 shares of the company’s stock valued at $2,191,000 after buying an additional 67,088 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in SoundHound AI by 3.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 179,327 shares of the company’s stock valued at $1,788,000 after buying an additional 6,096 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

About SoundHound AI

SoundHound AI, Inc develops conversational artificial intelligence and voice-enabled technologies. Its platform is designed to let users interact with devices, applications and services through natural-language speech, supporting functions such as information retrieval, question answering and task completion.

The company’s offerings include the Houndify conversational AI platform, which businesses can use to build branded voice assistants, as well as SoundHound Chat AI, an in-car and consumer-oriented voice assistant that combines conversational capabilities with access to information and services.