Sonos (NASDAQ:SONO) Director Karen Boone Sells 46,766 Shares of Stock

Sonos, Inc. (NASDAQ:SONO) Director Karen Boone sold 46,766 shares of the stock in a transaction on Friday, September 25th. The shares were sold at an average price of $18.13, for a total value of $847,867.58. Following the completion of the transaction, the director directly owned 69,271 shares in the company, valued at approximately $1,255,883.23. This trade represents a 40.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Karen Boone also recently made the following trade(s):

• On Tuesday, September 1st, Karen Boone sold 10,000 shares of Sonos stock. The stock was sold at an average price of $15.39, for a total value of $153,900.00.

Sonos Stock Down 1.1%

Shares of Sonos stock traded down $0.20 during trading on Monday, reaching $17.97. 2,154,781 shares of the company were exchanged, compared to its average volume of 1,782,578. The business has a 50-day moving average price of $15.69 and a 200-day moving average price of $14.82. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 39.93 and a beta of 1.93. Sonos, Inc. has a twelve month low of $12.44 and a twelve month high of $19.82.

Sonos (NASDAQ:SONO) last released its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.23. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The firm had revenue of $375.26 million for the quarter, compared to analyst estimates of $365.65 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Sonos, Inc. will post 0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Sonos in the second quarter worth about $248,067,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Sonos by 2.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock valued at $44,319,000 after purchasing an additional 90,997 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sonos by 27.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,384,430 shares of the company’s stock valued at $31,949,000 after purchasing an additional 506,566 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Sonos by 258.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,706,501 shares of the company’s stock valued at $22,867,000 after purchasing an additional 1,230,900 shares during the period. Finally, Systematic Financial Management LP grew its position in shares of Sonos by 10.7% in the 1st quarter. Systematic Financial Management LP now owns 1,306,859 shares of the company’s stock valued at $17,512,000 after purchasing an additional 126,760 shares during the period. 85.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SONO shares. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price target on shares of Sonos in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Sonos from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.00.

About Sonos

Sonos, Inc (NASDAQ: SONO) develops and sells wireless audio products and related software for residential and commercial environments. Its product portfolio includes wireless speakers, portable speakers, soundbars, subwoofers, headphones and components designed for home theater and whole-home audio systems.

The company’s products are controlled through the Sonos app and can be connected across rooms, with support for music-streaming services, voice control and other smart-home features.