Sonos, Inc. (NASDAQ:SONO – Get Free Report) insider Maxime Bouvat-Merlin sold 6,917 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $11.27, for a total value of $77,954.59. Following the sale, the insider now directly owns 24,138 shares of the company’s stock, valued at $272,035.26. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Sonos Stock Up 3.2 %
Shares of Sonos stock opened at $13.71 on Friday. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $21.98. The business has a fifty day simple moving average of $11.86 and a 200 day simple moving average of $14.48.
Wall Street Analyst Weigh In
SONO has been the subject of several research reports. DA Davidson lifted their target price on Sonos from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Morgan Stanley lowered their target price on Sonos from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America cut Sonos from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $12.00 in a research note on Tuesday, November 7th. TheStreet cut Sonos from a “c-” rating to a “d+” rating in a research note on Thursday, September 21st. Finally, Craig Hallum initiated coverage on Sonos in a research note on Friday, September 8th. They issued a “buy” rating and a $20.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.60.
Institutional Investors Weigh In On Sonos
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Sonos by 77.4% during the first quarter. BlackRock Inc. now owns 22,364,298 shares of the company’s stock worth $631,123,000 after purchasing an additional 9,759,359 shares during the period. Vanguard Group Inc. lifted its holdings in Sonos by 16.6% during the first quarter. Vanguard Group Inc. now owns 13,604,113 shares of the company’s stock worth $383,908,000 after acquiring an additional 1,933,485 shares in the last quarter. Trigran Investments Inc. lifted its holdings in Sonos by 7.0% during the third quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock worth $86,477,000 after acquiring an additional 436,696 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Sonos by 1.9% during the second quarter. Thrivent Financial for Lutherans now owns 5,722,417 shares of the company’s stock worth $93,447,000 after acquiring an additional 107,297 shares in the last quarter. Finally, State Street Corp lifted its holdings in Sonos by 1.6% during the first quarter. State Street Corp now owns 4,735,902 shares of the company’s stock worth $92,918,000 after acquiring an additional 76,499 shares in the last quarter. 84.26% of the stock is owned by institutional investors and hedge funds.
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.
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