Sonos, Inc. (NASDAQ:SONO – Get Rating) was the recipient of some unusual options trading on Thursday. Stock traders purchased 8,189 call options on the company. This represents an increase of approximately 125% compared to the average volume of 3,639 call options.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on SONO shares. Morgan Stanley boosted their price target on Sonos from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday. DA Davidson reduced their price target on Sonos to $26.00 in a report on Thursday, December 1st.
Sonos Trading Up 16.5 %
NASDAQ:SONO opened at $20.80 on Friday. The stock has a market cap of $2.65 billion, a P/E ratio of 48.37, a price-to-earnings-growth ratio of 9.92 and a beta of 1.88. The stock’s 50-day moving average is $17.86 and its 200-day moving average is $16.99. Sonos has a 1-year low of $13.65 and a 1-year high of $31.22.
Sonos (NASDAQ:SONO – Get Rating) last posted its quarterly earnings data on Wednesday, November 16th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The company had revenue of $316.29 million during the quarter, compared to analyst estimates of $302.51 million. Sonos had a return on equity of 13.89% and a net margin of 3.85%. As a group, equities analysts forecast that Sonos will post 0.19 EPS for the current year.
Hedge Funds Weigh In On Sonos
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. lifted its stake in Sonos by 261.9% in the fourth quarter. Landscape Capital Management L.L.C. now owns 578,738 shares of the company’s stock valued at $9,781,000 after buying an additional 418,816 shares during the period. First Trust Advisors LP lifted its stake in Sonos by 177.1% in the fourth quarter. First Trust Advisors LP now owns 87,778 shares of the company’s stock valued at $1,483,000 after buying an additional 56,097 shares during the period. Victory Capital Management Inc. lifted its stake in Sonos by 70.9% in the fourth quarter. Victory Capital Management Inc. now owns 382,782 shares of the company’s stock valued at $6,526,000 after buying an additional 158,852 shares during the period. Dimensional Fund Advisors LP lifted its stake in Sonos by 15.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,433,091 shares of the company’s stock valued at $24,218,000 after buying an additional 192,348 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Sonos by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,290,188 shares of the company’s stock valued at $21,804,000 after buying an additional 68,858 shares during the period. 85.64% of the stock is owned by institutional investors and hedge funds.
Sonos Company Profile
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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