Sonos, Inc. (NASDAQ:SONO) Stock Rated “Hold” by Sell-Side Analysts

Shares of Sonos, Inc. (NASDAQ:SONO) have been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.00.

Several brokerages have commented on SONO. Weiss Ratings upgraded shares of Sonos from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen downgraded Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Sonos in a research report on Thursday, July 30th.

Insiders Place Their Bets

In other news, Director Karen Boone sold 46,766 shares of the company’s 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 transaction, the director directly owned 69,271 shares of the company’s stock, valued at approximately $1,255,883.23. This represents a 40.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 19,855 shares of Sonos 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 sale, the director directly owned 53,775 shares of the company’s stock, valued at approximately $914,175. The trade was a 26.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,621 shares of company stock worth $1,339,303 over the last ninety days. 1.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Sonos by 2.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock worth $44,319,000 after buying an additional 90,997 shares during the last quarter. BlackRock Inc. acquired a new stake in Sonos in the 2nd quarter valued at approximately $248,067,000. Canada Pension Plan Investment Board acquired a new stake in Sonos in the 2nd quarter valued at approximately $1,008,000. Bank of New York Mellon Corp bought a new position in Sonos in the 2nd quarter worth approximately $9,282,000. Finally, Two Seas Capital LP bought a new position in Sonos in the 2nd quarter worth approximately $9,615,000. 85.82% of the stock is owned by institutional investors.

Sonos Stock Performance

NASDAQ SONO opened at $17.85 on Friday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 39.67 and a beta of 1.93. Sonos has a 1 year low of $12.44 and a 1 year high of $19.82. The business’s fifty day moving average is $15.80 and its two-hundred day moving average is $14.87.

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

Sonos Company Profile

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.