Sonos, Inc. (NASDAQ:SONO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Sonos, Inc. (NASDAQ:SONO) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.00.

A number of brokerages recently commented on SONO. Wall Street Zen downgraded Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Sonos in a report on Tuesday, May 5th. Weiss Ratings raised Sonos from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Morgan Stanley set a $18.00 price target on Sonos in a report on Wednesday, February 4th. Finally, Zacks Research downgraded Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 420,000 shares of Sonos stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average price of $13.95 per share, with a total value of $5,859,000.00. Following the completion of the acquisition, the insider owned 17,341,842 shares of the company’s stock, valued at approximately $241,918,695.90. This trade represents a 2.48% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 1,760,249 shares of company stock valued at $25,168,850 over the last ninety days. Corporate insiders own 1.25% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Sonos by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company’s stock worth $244,704,000 after buying an additional 204,934 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Sonos by 2.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock worth $44,319,000 after buying an additional 90,997 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Sonos by 2.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,281,869 shares of the company’s stock worth $57,630,000 after buying an additional 85,468 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Sonos by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,908,435 shares of the company’s stock worth $51,082,000 after buying an additional 20,602 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Sonos by 27.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,384,430 shares of the company’s stock worth $31,949,000 after buying an additional 506,566 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Stock Performance

Shares of SONO opened at $14.72 on Friday. The company has a market capitalization of $1.75 billion, a P/E ratio of 86.59 and a beta of 1.94. Sonos has a one year low of $9.65 and a one year high of $19.82. The stock has a 50-day moving average price of $14.01 and a 200 day moving average price of $15.73.

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.