Sonos (NASDAQ:SONO) CEO Thomas Conrad Acquires 62,325 Shares of Stock

Sonos, Inc. (NASDAQ:SONO) CEO Thomas Conrad bought 62,325 shares of the stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $16.17 per share, for a total transaction of $1,007,795.25. Following the completion of the acquisition, the chief executive officer owned 305,103 shares in the company, valued at approximately $4,933,515.51. The trade was a 25.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Sonos Stock Performance

Shares of Sonos stock opened at $16.28 on Wednesday. The business’s 50 day moving average price is $16.38 and its 200 day moving average price is $13.06. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -31.31 and a beta of 2.27. Sonos, Inc. has a one year low of $7.63 and a one year high of $18.06.

Sonos (NASDAQ:SONO) last issued its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). Sonos had a negative return on equity of 11.66% and a negative net margin of 4.24%.The company had revenue of $287.90 million during the quarter, compared to analyst estimates of $535.43 million. During the same period last year, the business earned ($0.44) earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Sonos has set its Q1 2026 guidance at EPS. On average, analysts predict that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Sonos

Institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in Sonos by 2.3% during the third quarter. Arizona State Retirement System now owns 31,970 shares of the company’s stock worth $505,000 after acquiring an additional 706 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Sonos by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 88,302 shares of the company’s stock worth $955,000 after purchasing an additional 833 shares in the last quarter. Centaurus Financial Inc. grew its stake in shares of Sonos by 9.0% during the 2nd quarter. Centaurus Financial Inc. now owns 10,375 shares of the company’s stock worth $112,000 after purchasing an additional 856 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Sonos by 31.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,195 shares of the company’s stock valued at $66,000 after purchasing an additional 992 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its holdings in shares of Sonos by 10.1% in the 1st quarter. Fox Run Management L.L.C. now owns 12,332 shares of the company’s stock valued at $132,000 after purchasing an additional 1,128 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Sonos from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Morgan Stanley set a $17.00 price target on shares of Sonos and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sonos in a research report on Wednesday, October 8th. Finally, Rosenblatt Securities upped their price objective on Sonos from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.00.

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.