Sonos Inc (NASDAQ:SONO) CFO Michael Giannetto sold 30,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.94, for a total transaction of $298,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
SONO stock opened at $9.92 on Friday. The stock has a market capitalization of $1.02 billion and a P/E ratio of -41.33. Sonos Inc has a 52 week low of $9.23 and a 52 week high of $23.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.03 and a quick ratio of 1.63.
Sonos (NASDAQ:SONO) last released its quarterly earnings results on Wednesday, February 6th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.14. The firm had revenue of $496.00 million for the quarter, compared to the consensus estimate of $490.66 million. The business’s quarterly revenue was up 193.5% compared to the same quarter last year. On average, sell-side analysts predict that Sonos Inc will post -0.02 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. raised its position in shares of Sonos by 53.2% during the fourth quarter. Advisor Group Inc. now owns 4,377 shares of the company’s stock worth $43,000 after purchasing an additional 1,520 shares during the period. Great West Life Assurance Co. Can bought a new position in shares of Sonos during the 4th quarter worth $44,000. Columbia Asset Management purchased a new stake in Sonos during the 3rd quarter worth about $117,000. Bank of America Corp DE lifted its holdings in Sonos by 69.8% during the 4th quarter. Bank of America Corp DE now owns 10,009 shares of the company’s stock worth $98,000 after purchasing an additional 4,113 shares in the last quarter. Finally, American International Group Inc. purchased a new stake in shares of Sonos in the 3rd quarter valued at about $171,000. 46.50% of the stock is currently owned by hedge funds and other institutional investors.
SONO has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Sonos from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Stifel Nicolaus cut their price target on shares of Sonos from $20.00 to $14.00 and set a “hold” rating on the stock in a research report on Thursday, February 7th. Raymond James reiterated a “buy” rating on shares of Sonos in a research report on Friday, November 16th. Finally, Morgan Stanley upgraded shares of Sonos from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $20.00 to $15.00 in a report on Monday, January 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Sonos currently has an average rating of “Buy” and an average price target of $19.71.
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Sonos Company Profile
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.
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