Sonos, Inc. (NASDAQ:SONO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Sonos, Inc. (NASDAQ:SONO) has received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $21.00.

A number of equities analysts have issued reports on SONO shares. TheStreet upgraded Sonos from a “d+” rating to a “c-” rating in a research report on Wednesday, February 14th. Rosenblatt Securities reissued a “buy” rating and issued a $24.00 price target on shares of Sonos in a research note on Monday, March 25th. Finally, Morgan Stanley upped their price objective on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th.

Sonos Stock Performance

Shares of NASDAQ SONO opened at $17.31 on Tuesday. The company has a market capitalization of $2.14 billion, a PE ratio of -576.81 and a beta of 1.99. The company’s fifty day moving average price is $18.36 and its 200 day moving average price is $16.15. Sonos has a 1 year low of $9.78 and a 1 year high of $21.98.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data 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. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. The business had revenue of $612.87 million during the quarter, compared to the consensus estimate of $588.96 million. On average, equities analysts expect that Sonos will post 0.31 EPS for the current year.

Insider Activity at Sonos

In other news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the sale, the insider now owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Christopher Scott Mason sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the transaction, the insider now directly owns 119,179 shares in the company, valued at approximately $2,099,933.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas Conrad sold 5,337 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total value of $97,720.47. Following the completion of the sale, the director now directly owns 37,334 shares of the company’s stock, valued at approximately $683,585.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,147 shares of company stock valued at $484,972. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Sonos

Hedge funds have recently modified their holdings of the company. NewEdge Wealth LLC purchased a new stake in shares of Sonos in the 4th quarter valued at approximately $7,453,000. Jump Financial LLC grew its position in Sonos by 955.5% in the third quarter. Jump Financial LLC now owns 223,905 shares of the company’s stock worth $2,891,000 after acquiring an additional 202,691 shares during the period. First Eagle Investment Management LLC increased its stake in Sonos by 16.3% during the third quarter. First Eagle Investment Management LLC now owns 336,304 shares of the company’s stock worth $4,342,000 after acquiring an additional 47,200 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Sonos by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,312,778 shares of the company’s stock valued at $16,948,000 after purchasing an additional 87,341 shares during the last quarter. Finally, Trigran Investments Inc. grew its holdings 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. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About Sonos

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.