Key Points
- Sonos director Karen Boone sold 46,766 shares at an average price of $18.13, generating $847,867.58 and reducing her position by 40.3% to 69,271 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Sonos reported quarterly EPS of $0.27, beating the $0.04 analyst consensus, while revenue of $375.26 million rose 8.8% year over year and exceeded estimates.
- Shares opened at $17.97, compared with a 52-week range of $12.44 to $19.82. Analysts maintain a consensus “Hold” rating with a $20.00 target price, while institutional investors own 85.82% of the stock.
Sonos, Inc. (NASDAQ:SONO - Get Free Report) Director Karen Boone sold 46,766 shares of the firm's stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $18.13, for a total transaction of $847,867.58. Following the completion of the sale, the director owned 69,271 shares of the company's stock, valued at $1,255,883.23. This trade represents a 40.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Karen Boone also recently made the following trade(s):
- On Tuesday, September 1st, Karen Boone sold 10,000 shares of Sonos stock. The shares were sold at an average price of $15.39, for a total value of $153,900.00.
Sonos Stock Down 1.1%
SONO opened at $17.97 on Tuesday. Sonos, Inc. has a 52-week low of $12.44 and a 52-week high of $19.82. The stock has a market cap of $2.13 billion, a P/E ratio of 39.93 and a beta of 1.93. The business has a fifty day moving average of $15.74 and a 200 day moving average of $14.84.
Sonos (NASDAQ:SONO - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.23. The firm had revenue of $375.26 million during the quarter, compared to analyst estimates of $365.65 million. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The business's revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share. Equities analysts anticipate that Sonos, Inc. will post 0.69 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $21.00 target price on shares of Sonos in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Sonos from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Finally, Wall Street Zen lowered shares of Sonos from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Sonos has a consensus rating of "Hold" and a consensus target price of $20.00.
Check Out Our Latest Analysis on Sonos
Hedge Funds Weigh In On Sonos
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its holdings in Sonos by 307.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company's stock worth $31,000 after buying an additional 1,330 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in Sonos in the 4th quarter valued at $66,000. Meeder Asset Management Inc. acquired a new stake in shares of Sonos in the 2nd quarter worth $59,000. Integrated Wealth Concepts LLC purchased a new position in shares of Sonos during the 2nd quarter worth $75,000. Finally, Leonteq Securities AG raised its holdings in shares of Sonos by 45.2% during the 1st quarter. Leonteq Securities AG now owns 7,690 shares of the company's stock worth $103,000 after acquiring an additional 2,395 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.
Sonos Company Profile
(
Get Free Report)
Sonos, Inc (NASDAQ: SONO) develops and sells wireless audio products and related software for residential and commercial environments. Its product portfolio includes wireless speakers, portable speakers, soundbars, subwoofers, headphones and components designed for home theater and whole-home audio systems.
The company's products are controlled through the Sonos app and can be connected across rooms, with support for music-streaming services, voice control and other smart-home features.
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