Sonos (NASDAQ:SONO) Insider Sells $228,000.00 in Stock

Sonos, Inc. (NASDAQ:SONO) insider Edward Lazarus sold 12,000 shares of Sonos stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $19.00, for a total value of $228,000.00. Following the transaction, the insider owned 423,219 shares of the company’s stock, valued at $8,041,161. The trade was a 2.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Sonos Stock Up 2.1%

Shares of NASDAQ SONO traded up $0.39 during trading on Friday, reaching $19.15. The company had a trading volume of 1,120,122 shares, compared to its average volume of 1,899,369. Sonos, Inc. has a 12-month low of $7.63 and a 12-month high of $19.16. The business’s 50-day moving average is $17.03 and its 200 day moving average is $13.67. The stock has a market cap of $2.30 billion, a PE ratio of -36.83 and a beta of 2.01.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $535.43 million. During the same period in the prior year, the firm earned ($0.44) EPS. Sonos’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sonos in a research note on Wednesday, October 8th. Rosenblatt Securities boosted their price objective on shares of Sonos from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Morgan Stanley set a $17.00 price objective on Sonos and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen raised Sonos from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sonos presently has a consensus rating of “Hold” and an average price target of $17.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SONO. AlphaQuest LLC bought a new position in Sonos during the first quarter valued at approximately $29,000. Nisa Investment Advisors LLC grew its position in Sonos by 65.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock worth $35,000 after purchasing an additional 1,269 shares during the period. Quarry LP raised its stake in Sonos by 485.8% during the 3rd quarter. Quarry LP now owns 3,251 shares of the company’s stock valued at $51,000 after buying an additional 2,696 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Sonos by 222.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,714 shares of the company’s stock valued at $40,000 after buying an additional 2,563 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Sonos by 96.3% in the 2nd quarter. GAMMA Investing LLC now owns 6,035 shares of the company’s stock worth $65,000 after buying an additional 2,961 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

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.