Sonos, Inc. (NASDAQ:SONO - Get Free Report) 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 completion of the transaction, the insider now owns 119,179 shares in the company, valued at approximately $2,099,933.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Sonos Stock Performance
Shares of SONO opened at $17.48 on Friday. The business's 50 day moving average price is $18.58 and its two-hundred day moving average price is $15.74. Sonos, Inc. has a 52-week low of $9.78 and a 52-week high of $21.98. The firm has a market cap of $2.16 billion, a PE ratio of -582.47 and a beta of 1.99.
Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.22. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. The business had revenue of $612.87 million during the quarter, compared to the consensus estimate of $588.96 million. Research analysts predict that Sonos, Inc. will post 0.31 EPS for the current fiscal year.
Institutional Inflows and Outflows
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Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of 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. Hawk Ridge Capital Management LP lifted its position in shares of Sonos by 382.6% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 4,097,212 shares of the company's stock valued at $52,895,000 after buying an additional 3,248,148 shares during the last quarter. Millennium Management LLC lifted its position in shares of Sonos by 938.3% during the 4th quarter. Millennium Management LLC now owns 2,728,942 shares of the company's stock valued at $46,119,000 after buying an additional 2,466,107 shares during the last quarter. Vanguard Group Inc. lifted its position 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 valued at $383,908,000 after buying an additional 1,933,485 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Sonos by 76.7% during the 1st quarter. State Street Corp now owns 4,176,588 shares of the company's stock valued at $117,863,000 after buying an additional 1,812,340 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on SONO. TheStreet upgraded Sonos from a "d+" rating to a "c-" rating in a research report on Wednesday, February 14th. Rosenblatt Securities reiterated a "buy" rating and issued a $24.00 target price on shares of Sonos in a research report on Monday, March 25th. Finally, Morgan Stanley lifted their target price on Sonos from $20.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.00.
Check Out Our Latest Stock Report on Sonos
Sonos Company Profile
(
Get Free Report)
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.
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