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

Key Points

• Sonos Director Karen Boone sold 46,766 shares at an average price of $18.13, generating approximately $847,868. The Rule 10b5-1 transaction reduced her direct ownership by 40.3% to 69,271 shares.
• Sonos shares recently traded at $17.97, with a $2.13 billion market capitalization; the stock has ranged from $12.44 to $19.82 over the past year.
• The company exceeded quarterly earnings and revenue expectations, reporting $0.27 in EPS and $375.26 million in revenue, up 8.8% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $20.00.

Sonos, Inc. (NASDAQ:SONO - Get Free Report) Director Karen Boone sold 46,766 shares of Sonos 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. The trade was a 40.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $15.39, for a total transaction of $153,900.00.

Sonos Price Performance

Shares of NASDAQ:SONO traded down $0.20 during trading on Monday, reaching $17.97. The stock had a trading volume of 2,154,781 shares, compared to its average volume of 1,782,578. The stock has a market capitalization of $2.13 billion, a PE ratio of 39.93 and a beta of 1.93. Sonos, Inc. has a 52 week low of $12.44 and a 52 week high of $19.82. The business's 50-day moving average price is $15.69 and its 200 day moving average price is $14.82.

Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.23. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The business had revenue of $375.26 million for the quarter, compared to analyst estimates of $365.65 million. During the same period in the prior year, the company earned ($0.03) EPS. Sonos's revenue for the quarter was up 8.8% on a year-over-year basis. Analysts forecast that Sonos, Inc. will post 0.69 EPS for the current year.

Hedge Funds Weigh In On Sonos

Large investors have recently made changes to their positions in the company. Intech Investment Management LLC boosted its stake in shares of Sonos by 0.7% in the 4th quarter. Intech Investment Management LLC now owns 117,718 shares of the company's stock valued at $2,067,000 after purchasing an additional 776 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Sonos by 8.4% during the first quarter. First Trust Advisors LP now owns 14,859 shares of the company's stock worth $199,000 after buying an additional 1,155 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Sonos by 307.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company's stock worth $31,000 after buying an additional 1,330 shares during the last quarter. Allworth Financial LP lifted its holdings in Sonos by 13.9% in the second quarter. Allworth Financial LP now owns 12,630 shares of the company's stock valued at $171,000 after buying an additional 1,540 shares during the period. Finally, Leonteq Securities AG lifted its holdings in Sonos by 45.2% in the first quarter. Leonteq Securities AG now owns 7,690 shares of the company's stock valued at $103,000 after buying an additional 2,395 shares during the period. Institutional investors and hedge funds own 85.82% of the company's stock.

Wall Street Analyst Weigh In

SONO has been the subject of several research reports. Rosenblatt Securities restated a "buy" rating and issued a $21.00 price objective 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 research report on Thursday, August 13th. Finally, Wall Street Zen lowered shares of Sonos from a "strong-buy" rating to a "buy" rating in a 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.00.

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.

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