Insider Selling: Sonos (NASDAQ:SONO) Director Sells $153,900.00 in Stock

Sonos, Inc. (NASDAQ:SONO) Director Karen Boone sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $15.39, for a total value of $153,900.00. Following the completion of the sale, the director directly owned 84,271 shares in the company, valued at approximately $1,296,930.69. The trade was a 10.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sonos Stock Performance

Shares of SONO stock opened at $15.36 on Friday. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 34.13 and a beta of 1.93. Sonos, Inc. has a one year low of $12.44 and a one year high of $19.82. The company has a 50 day moving average price of $15.13 and a 200 day moving average price of $14.74.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.23. The company had revenue of $375.26 million for the quarter, compared to the consensus estimate of $365.65 million. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. As a group, equities analysts forecast that Sonos, Inc. will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Sonos

Several institutional investors have recently modified their holdings of SONO. Arrowstreet Capital Limited Partnership increased its stake in shares of Sonos by 2.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock valued at $44,319,000 after acquiring an additional 90,997 shares during the period. Vanguard Group Inc. increased its position in shares of Sonos by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company’s stock valued at $244,704,000 after purchasing an additional 204,934 shares during the period. BlackRock Inc. bought a new stake in shares of Sonos in the 2nd quarter worth $248,067,000. BNP Paribas Financial Markets lifted its holdings in shares of Sonos by 46.2% in the fourth quarter. BNP Paribas Financial Markets now owns 951,810 shares of the company’s stock valued at $16,714,000 after buying an additional 300,735 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Sonos in the second quarter valued at $1,008,000. Institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SONO shares. Weiss Ratings raised shares of Sonos from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price objective on shares of Sonos in a research note on Thursday, July 30th. 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.00.

Sonos Company Profile

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.