Insider Selling: Sonos (NASDAQ:SONO) Director Sells $847,867.58 in Stock

Sonos, Inc. (NASDAQ:SONO) Director Karen Boone sold 46,766 shares of Sonos stock in a transaction on Friday, September 25th. The shares were sold at an average price of $18.13, for a total transaction of $847,867.58. Following the transaction, the director owned 69,271 shares in the company, valued at $1,255,883.23. The trade was a 40.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Boone also recently made the following trade(s):

• On Tuesday, September 1st, Karen Boone sold 10,000 shares of Sonos stock. The shares were sold at an average price of $15.39, for a total value of $153,900.00.

Sonos Price Performance

NASDAQ:SONO opened at $17.89 on Thursday. The business’s 50-day moving average is $15.87 and its two-hundred day moving average is $14.90. The firm has a market capitalization of $2.12 billion, a PE ratio of 39.76 and a beta of 1.93. Sonos, Inc. has a 12 month low of $12.44 and a 12 month high of $19.82.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.23. The business had revenue of $375.26 million during the quarter, compared to analyst estimates of $365.65 million. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. Equities analysts anticipate that Sonos, Inc. will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its position 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 worth $44,319,000 after purchasing an additional 90,997 shares during the last quarter. BlackRock Inc. bought a new position in Sonos during the 2nd quarter worth approximately $248,067,000. Canada Pension Plan Investment Board bought a new position in Sonos during the 2nd quarter worth approximately $1,008,000. Bank of New York Mellon Corp acquired a new position in shares of Sonos in the 2nd quarter worth approximately $9,282,000. Finally, Two Seas Capital LP acquired a new position in shares of Sonos in the 2nd quarter worth approximately $9,615,000. 85.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $21.00 target price on shares of Sonos in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Sonos from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Sonos currently has a consensus rating of “Hold” and an average price target of $20.00.

Sonos Company Profile

Sonos, Inc (NASDAQ: SONO) develops and sells wireless audio products and related software for residential and commercial environments. Its product portfolio includes wireless speakers, portable speakers, soundbars, subwoofers, headphones and components designed for home theater and whole-home audio systems.

The company’s products are controlled through the Sonos app and can be connected across rooms, with support for music-streaming services, voice control and other smart-home features.