Sonos (NASDAQ:SONO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sonos (NASDAQ:SONO) from a buy rating to a strong-buy rating in a research report released on Saturday.

Several other equities analysts have also commented on the stock. Zacks Research lowered shares of Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 target price on shares of Sonos in a report on Thursday, July 30th. Finally, Weiss Ratings raised Sonos from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Sonos Price Performance

Shares of SONO stock opened at $15.77 on Friday. The firm has a market cap of $1.87 billion, a PE ratio of 35.05 and a beta of 1.95. The company has a 50-day moving average of $14.85 and a two-hundred day moving average of $14.72. Sonos has a 1-year low of $10.11 and a 1-year high of $19.82.

Insider Activity at Sonos

In other Sonos news, Director Julius Genachowski sold 19,855 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the completion of the transaction, the director owned 53,775 shares in the company, valued at $914,175. The trade was a 26.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its position in Sonos by 307.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock valued at $31,000 after purchasing an additional 1,330 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Sonos by 699.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock worth $36,000 after acquiring an additional 1,798 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Sonos during the 4th quarter worth approximately $50,000. Quarry LP grew its holdings in Sonos by 485.8% during the 3rd quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after acquiring an additional 2,696 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Sonos during the 4th quarter worth approximately $64,000. 85.82% of the stock is owned by institutional investors and hedge funds.

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.