Sonos, Inc. (NASDAQ:SONO – Get Rating) saw unusually-strong trading volume on Friday . Approximately 1,868,844 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 1,853,983 shares.The stock last traded at $15.72 and had previously closed at $16.14.
Wall Street Analysts Forecast Growth
SONO has been the subject of a number of research reports. DA Davidson dropped their price objective on shares of Sonos from $26.00 to $24.00 in a report on Thursday. Morgan Stanley lifted their price objective on shares of Sonos from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, February 9th.
Sonos Trading Down 2.9 %
The company has a market cap of $2.00 billion, a price-to-earnings ratio of -92.18, a PEG ratio of 12.57 and a beta of 1.85. The firm’s fifty day simple moving average is $19.92 and its 200 day simple moving average is $18.62.
Sonos (NASDAQ:SONO – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.24. The business had revenue of $672.58 million during the quarter, compared to the consensus estimate of $602.33 million. Sonos had a net margin of 1.08% and a return on equity of 3.04%. As a group, sell-side analysts expect that Sonos, Inc. will post 0.3 EPS for the current year.
Insider Transactions at Sonos
In other Sonos news, Director Thomas Conrad sold 12,792 shares of the company’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $19.24, for a total transaction of $246,118.08. Following the completion of the transaction, the director now owns 42,671 shares in the company, valued at approximately $820,990.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Edward P. Lazarus sold 13,220 shares of the stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $20.70, for a total value of $273,654.00. Following the sale, the chief financial officer now directly owns 176,290 shares of the company’s stock, valued at approximately $3,649,203. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas Conrad sold 12,792 shares of Sonos stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $19.24, for a total transaction of $246,118.08. Following the sale, the director now owns 42,671 shares of the company’s stock, valued at $820,990.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,822 shares of company stock worth $556,778. 3.13% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Sonos
Hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp boosted its position in shares of Sonos by 17.5% in the first quarter. Stifel Financial Corp now owns 52,755 shares of the company’s stock worth $1,035,000 after acquiring an additional 7,874 shares during the last quarter. BNP Paribas Arbitrage SNC increased its stake in Sonos by 15.1% during the first quarter. BNP Paribas Arbitrage SNC now owns 498,773 shares of the company’s stock valued at $9,786,000 after purchasing an additional 65,548 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of Sonos by 48.0% during the first quarter. WINTON GROUP Ltd now owns 31,372 shares of the company’s stock worth $616,000 after acquiring an additional 10,179 shares during the last quarter. Sei Investments Co. grew its position in shares of Sonos by 18.5% during the first quarter. Sei Investments Co. now owns 335,098 shares of the company’s stock worth $6,575,000 after acquiring an additional 52,325 shares during the last quarter. Finally, FCA Corp TX lifted its holdings in Sonos by 3.8% in the first quarter. FCA Corp TX now owns 150,000 shares of the company’s stock worth $2,943,000 after purchasing an additional 5,485 shares during the period. 85.64% of the stock is currently owned by hedge funds and other institutional investors.
Sonos Company Profile
(Get Rating)
Sonos, Inc engages in the provision of multi-room wireless smart home sound systems. It supports streaming services around the world, providing customers with access to music, Internet radio, podcasts and audiobooks, with control from Android smartphones, iPhone or iPad. The company was founded by Mai Trung, John MacFarlane, Craig A.
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