Sonos, Inc. (NASDAQ:SONO) Insider Sells $352,400.00 in Stock

Sonos, Inc. (NASDAQ:SONO) insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. Following the sale, the insider now directly owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sonos Trading Down 1.8 %

SONO traded down $0.32 on Friday, hitting $17.48. 1,151,378 shares of the company were exchanged, compared to its average volume of 2,063,859. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $21.98. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -582.14 and a beta of 1.99. The firm has a 50-day moving average price of $18.55 and a two-hundred day moving average price of $15.71.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to analysts’ expectations of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. Equities analysts expect that Sonos, Inc. will post 0.31 EPS for the current year.

Institutional Investors Weigh In On Sonos

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Sonos by 77.4% during the 1st quarter. BlackRock Inc. now owns 22,364,298 shares of the company’s stock valued at $631,123,000 after buying an additional 9,759,359 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Sonos by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 13,604,113 shares of the company’s stock worth $383,908,000 after purchasing an additional 1,933,485 shares during the period. Trigran Investments Inc. lifted its stake in shares of Sonos by 7.0% during the 3rd quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock worth $86,477,000 after purchasing an additional 436,696 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Sonos by 3.0% during the 1st quarter. Thrivent Financial for Lutherans now owns 5,615,120 shares of the company’s stock worth $110,169,000 after purchasing an additional 162,684 shares during the period. Finally, State Street Corp lifted its stake in shares of Sonos by 1.6% during the 1st quarter. State Street Corp now owns 4,735,902 shares of the company’s stock worth $92,918,000 after purchasing an additional 76,499 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SONO shares. TheStreet raised Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Sonos in a research note on Monday, March 25th. Finally, Morgan Stanley lifted their price objective on Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.