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

SoundHound AI, Inc. (NASDAQ:SOUN) CEO Keyvan Mohajer sold 126,540 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.46, for a total value of $943,988.40. Following the completion of the sale, the chief executive officer directly owned 1,947,237 shares in the company, valued at approximately $14,526,388.02. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 shares were sold at an average price of $6.79, for a total value of $845,422.90.

SoundHound AI Trading Down 1.0%

Shares of SOUN opened at $6.96 on Thursday. SoundHound AI, Inc. has a 12 month low of $5.83 and a 12 month high of $22.17. The stock’s 50 day moving average is $7.94 and its two-hundred day moving average is $8.81. The firm has a market cap of $3.01 billion, a P/E ratio of -14.81 and a beta of 2.56.

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

Hedge Funds Weigh In On SoundHound AI

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EP Wealth Advisors LLC lifted its position in shares of SoundHound AI by 5.3% in the second quarter. EP Wealth Advisors LLC now owns 14,100 shares of the company’s stock valued at $151,000 after acquiring an additional 706 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of SoundHound AI by 2.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 31,880 shares of the company’s stock valued at $513,000 after acquiring an additional 830 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in SoundHound AI by 7.4% during the third quarter. Insigneo Advisory Services LLC now owns 12,416 shares of the company’s stock worth $200,000 after buying an additional 858 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in SoundHound AI by 1.6% during the fourth quarter. Clear Creek Financial Management LLC now owns 58,091 shares of the company’s stock worth $579,000 after buying an additional 941 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in SoundHound AI by 15.5% during the third quarter. PNC Financial Services Group Inc. now owns 7,127 shares of the company’s stock worth $115,000 after buying an additional 956 shares in the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. HC Wainwright dropped their price objective on SoundHound AI from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. DA Davidson restated a “buy” rating and issued a $14.00 target price on shares of SoundHound AI in a research report on Wednesday, April 22nd. Piper Sandler restated 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. LADENBURG THALM/SH SH upgraded SoundHound AI to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given 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 price target of $14.93.

Trending Headlines about SoundHound AI

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

• Neutral Sentiment: Several SoundHound executives and insiders sold shares on June 15, including CEO Keyvan Mohajer, COO Michael Zagorsek, CTO Timothy Stonehocker, SVP Majid Emami, and insider James Ming Hom. The company said the sales were made to cover tax withholding obligations tied to vesting equity awards, which makes the transactions less concerning than open-market selling, but the size and number of sales can still weigh on sentiment.
• Neutral Sentiment: Analysts and commentary pieces continue to highlight SoundHound’s strong growth story in conversational AI and the potential for enterprise adoption, with one bullish note pointing to a possible $500 million revenue target as a reason to view the stock as attractive.
• Neutral Sentiment: Other recent coverage has been more cautious, emphasizing that SOUN trades at a premium to the industry and may not be a clear bargain despite its growth prospects. That valuation debate is likely contributing to volatility.
• Negative Sentiment: Additional market coverage noted that SoundHound AI shares have been falling alongside other names in the sector, suggesting broader weakness in high-growth AI stocks is also pressuring the shares.

SoundHound AI Company Profile

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.