Sonos, Inc. (NASDAQ:SONO) Stock Short Interest Report for September

Sonos, Inc. (NASDAQ:SONO) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 14,464,055 shares, an increase of 55.4% from the September 15th total of 9,308,963 shares. Based on an average daily trading volume, of 2,410,961 shares, the short-interest ratio is currently 6.0 days. Currently, 12.4% of the shares of the stock are sold short.

Insider Activity at Sonos

In other Sonos news, 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 transaction of $337,535.00. Following the sale, the director owned 53,775 shares of the company’s stock, valued at $914,175. The trade was a 26.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 46,766 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $18.13, for a total transaction of $847,867.58. Following the completion of the sale, the director owned 69,271 shares of the company’s stock, valued at $1,255,883.23. This trade represents a 40.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 76,621 shares of company stock valued at $1,339,303. 1.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SONO. BlackRock Inc. purchased a new position in Sonos during the 2nd quarter worth approximately $248,067,000. Arrowstreet Capital Limited Partnership grew its holdings in Sonos by 2.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock worth $44,319,000 after acquiring an additional 90,997 shares during the period. Dimensional Fund Advisors LP grew its stake 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 worth $31,949,000 after purchasing an additional 506,566 shares during the period. Renaissance Technologies LLC grew its position in Sonos by 258.8% during the first quarter. Renaissance Technologies LLC now owns 1,706,501 shares of the company’s stock worth $22,867,000 after buying an additional 1,230,900 shares during the period. Finally, Systematic Financial Management LP grew its holdings 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 worth $17,512,000 after acquiring an additional 126,760 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Sonos Stock Down 2.0%

NASDAQ SONO opened at $17.34 on Friday. The firm has a 50 day moving average of $16.31 and a two-hundred day moving average of $15.24. The stock has a market capitalization of $2.05 billion, a PE ratio of 38.53 and a beta of 1.88. Sonos has a 52 week low of $12.44 and a 52 week high of $19.82.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, July 29th. The company reported $0.27 EPS 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 company posted ($0.03) earnings per share. Sonos’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Sonos will post 0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded Sonos from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 target price on shares of Sonos in a research note on Thursday, July 30th. Finally, Wall Street Zen lowered Sonos from a “strong-buy” rating to a “buy” rating in a research report 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.com, Sonos currently has a consensus rating of “Hold” and an average price target of $20.00.

Sonos Company Profile

Sonos, Inc is an audio technology company that develops and sells connected sound products and software for homes and other personal listening environments. Its products are designed to work together over wireless networks, allowing users to stream and control music, podcasts, television audio and other content through the Sonos app and compatible services.

The company’s product portfolio includes wireless home speakers, portable speakers, soundbars, home theater components, subwoofers and headphones.