10 Mid-Cap Stocks Insiders Are Selling Recently

6. SoundHound AI, Inc. (NASDAQ:SOUN)

Number of Insiders Selling: 8

Market Capitalization: $6.21B

SoundHound AI is yet another AI company among mid-cap stocks that insiders have been ditching recently. Last December, as many as eight insiders, including CEO, CFO, COO, and CTO sold $31.98 million worth of shares at an average price of $19.24 per share. The stock is now trading at $15.01 per share, having lost 24.29% year-to-date.

The company’s CEO, Keyvan Mohajer, sold 742,876 shares worth around $12.62 million, and he remained with 2.02 million of the company’s shares.

The voice artificial intelligence company was founded in 2005, and it went public in 2022. Since then, its shares have grown 130%. The company offers voice AI solutions that enable businesses to offer conversational experiences to their customers. SoundHound’s voice AI is built on proprietary technology and comes in numerous languages. It also offers AI-driven products like Smart Answering, Smart Ordering and Dynamic Interaction, providing millions of products and services and processing billions of interactions each year for remarkable businesses.

As per data from Stock Analysis, six analysts have an average “Buy” rating on the stock, with a 12-month stock price target of $13.25.

Even Nvidia (NASDAQ:NVDA), a computer manufacturing giant with a market capitalization of $3.29 trillion holds a stake in SoundHound. The company’s technology is used across various industries and by renowned brands such as Kia and Hyundai in the automotive sector, Krispy Kreme, and Dine Brands Global’s Applebee’s in the restaurant space.

Over the past 12 months, the company’s shares gained 548.72%.