Shares of Sonos Inc (NASDAQ:SONO) gapped up prior to trading on Friday . The stock had previously closed at $15.53, but opened at $15.89. Sonos shares last traded at $16.00, with a volume of 3,593,204 shares.
A number of equities analysts have commented on SONO shares. Morgan Stanley boosted their price objective on shares of Sonos from $13.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. TheStreet upgraded shares of Sonos from a “d+” rating to a “c” rating in a research note on Wednesday, July 1st. Royal Bank of Canada upped their target price on shares of Sonos from $12.00 to $19.00 in a research note on Tuesday, July 14th. ValuEngine lowered shares of Sonos from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, Raymond James lowered shares of Sonos from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.13.
The company has a current ratio of 2.18, a quick ratio of 1.65 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average is $14.75 and its two-hundred day moving average is $11.95. The firm has a market cap of $1.74 billion, a P/E ratio of -55.17 and a beta of 1.83.
Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.21). Sonos had a negative net margin of 1.95% and a negative return on equity of 8.14%. The business had revenue of $175.40 million for the quarter, compared to the consensus estimate of $195.39 million. During the same period in the prior year, the company earned ($0.22) EPS. Sonos’s quarterly revenue was down 16.6% on a year-over-year basis. On average, analysts anticipate that Sonos Inc will post -0.37 earnings per share for the current year.
In other Sonos news, major shareholder 2006 Fund L.P. Kkr sold 13,845,682 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $13.00, for a total value of $179,993,866.00. Also, insider Anna Fraser sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $12.37, for a total transaction of $123,700.00. Following the completion of the transaction, the insider now owns 25,690 shares of the company’s stock, valued at approximately $317,785.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,070,611 shares of company stock valued at $183,310,463. Insiders own 11.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SONO. Trigran Investments Inc. grew its position in Sonos by 195.7% in the 1st quarter. Trigran Investments Inc. now owns 2,980,029 shares of the company’s stock worth $25,271,000 after purchasing an additional 1,972,159 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Sonos by 283.4% in the first quarter. Deutsche Bank AG now owns 1,064,206 shares of the company’s stock valued at $9,024,000 after acquiring an additional 786,646 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Sonos by 362.5% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 922,716 shares of the company’s stock valued at $13,499,000 after acquiring an additional 723,216 shares in the last quarter. Bogle Investment Management L P DE bought a new position in shares of Sonos in the first quarter valued at approximately $4,267,000. Finally, Aristotle Capital Boston LLC boosted its holdings in shares of Sonos by 39.7% in the first quarter. Aristotle Capital Boston LLC now owns 1,594,469 shares of the company’s stock valued at $13,521,000 after acquiring an additional 453,328 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.
Sonos Company Profile (NASDAQ:SONO)
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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