Sonos, Inc. (NASDAQ:SONO) Insider Sells $74,423.28 in Stock

Sonos, Inc. (NASDAQ:SONO) insider Shamayne Braman sold 6,438 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $11.56, for a total transaction of $74,423.28. Following the completion of the sale, the insider now directly owns 26,588 shares in the company, valued at $307,357.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Sonos Trading Down 1.9 %

Shares of Sonos stock traded down $0.22 on Monday, reaching $11.39. 2,072,196 shares of the company were exchanged, compared to its average volume of 1,909,359. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -33.29 and a beta of 1.98. Sonos, Inc. has a one year low of $9.78 and a one year high of $19.76. The company has a 50-day moving average of $13.90 and a 200 day moving average of $16.37.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Sonos had a negative net margin of 1.04% and a positive return on equity of 0.42%. The company had revenue of $397.15 million for the quarter, compared to analyst estimates of $391.23 million. During the same period in the previous year, the business earned $0.02 EPS. Sonos’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts predict that Sonos, Inc. will post 0.23 earnings per share for the current year.

Institutional Trading of Sonos

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its stake in shares of Sonos by 4.6% during the 1st quarter. ProShare Advisors LLC now owns 24,973 shares of the company’s stock worth $476,000 after acquiring an additional 1,092 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Sonos by 6.2% in the second quarter. Mackenzie Financial Corp now owns 21,075 shares of the company’s stock valued at $311,000 after purchasing an additional 1,233 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Sonos by 0.4% in the first quarter. Sei Investments Co. now owns 315,913 shares of the company’s stock valued at $6,021,000 after purchasing an additional 1,354 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Sonos by 6.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,600 shares of the company’s stock worth $363,000 after buying an additional 1,400 shares during the last quarter. Finally, WNY Asset Management LLC boosted its holdings in shares of Sonos by 7.5% during the 4th quarter. WNY Asset Management LLC now owns 20,715 shares of the company’s stock worth $355,000 after buying an additional 1,450 shares during the period. Institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum downgraded Sonos from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $10.00 in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.