Sonos, Inc. (NASDAQ:SONO) Insider Sells $352,400.00 in Stock

Sonos, Inc. (NASDAQ:SONO) insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the completion of the transaction, the insider now owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sonos Stock Performance

SONO stock opened at $17.48 on Monday. The company has a 50 day moving average price of $18.58 and a two-hundred day moving average price of $15.79. The stock has a market capitalization of $2.16 billion, a P/E ratio of -582.67 and a beta of 1.99. Sonos, Inc. has a one year low of $9.78 and a one year high of $21.98.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to analysts’ expectations of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. Research analysts forecast that Sonos, Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Sonos

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of Sonos by 77.4% in the first quarter. BlackRock Inc. now owns 22,364,298 shares of the company’s stock worth $631,123,000 after acquiring an additional 9,759,359 shares during the last quarter. Hawk Ridge Capital Management LP boosted its holdings in shares of Sonos by 382.6% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 4,097,212 shares of the company’s stock valued at $52,895,000 after purchasing an additional 3,248,148 shares during the last quarter. Millennium Management LLC grew its stake in shares of Sonos by 938.3% during the 4th quarter. Millennium Management LLC now owns 2,728,942 shares of the company’s stock valued at $46,119,000 after buying an additional 2,466,107 shares during the period. Vanguard Group Inc. increased its holdings in shares of Sonos by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 13,604,113 shares of the company’s stock worth $383,908,000 after buying an additional 1,933,485 shares during the last quarter. Finally, State Street Corp raised its position in shares of Sonos by 76.7% in the 1st quarter. State Street Corp now owns 4,176,588 shares of the company’s stock worth $117,863,000 after buying an additional 1,812,340 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SONO. TheStreet raised shares of Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Rosenblatt Securities restated a “buy” rating and set a $24.00 price objective on shares of Sonos in a research report on Monday, March 25th. Finally, Morgan Stanley increased their target price on Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

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.