Insider Selling: Sonos, Inc. (NASDAQ:SONO) Director Sells 905 Shares of Stock

Sonos, Inc. (NASDAQ:SONO - Get Free Report) Director Joanna Coles sold 905 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $19.16, for a total transaction of $17,339.80. Following the transaction, the director now directly owns 23,664 shares of the company's stock, valued at $453,402.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Joanna Coles also recently made the following trade(s):

• On Monday, March 4th, Joanna Coles sold 905 shares of Sonos stock. The shares were sold at an average price of $19.35, for a total transaction of $17,511.75.

Sonos Stock Down 1.1 %

Shares of NASDAQ SONO traded down $0.21 during trading on Monday, reaching $18.09. The company had a trading volume of 1,469,363 shares, compared to its average volume of 2,112,888. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $21.98. The business's 50-day moving average is $18.40 and its 200 day moving average is $15.61. The stock has a market cap of $2.24 billion, a PE ratio of -609.80 and a beta of 1.99.

Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.22. The company had revenue of $612.87 million for the quarter, compared to analysts' expectations of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. On average, analysts anticipate that Sonos, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SONO. TheStreet raised Sonos from a "d+" rating to a "c-" rating in a report on Wednesday, February 14th. Rosenblatt Securities reaffirmed a "buy" rating and set a $24.00 price objective on shares of Sonos in a research note on Monday, March 25th. Finally, Morgan Stanley boosted their price objective on shares of Sonos from $20.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Sonos has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Hedge Funds Weigh In On Sonos

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its position in shares of Sonos by 9.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 34,381 shares of the company's stock valued at $970,000 after acquiring an additional 2,830 shares during the period. US Bancorp DE raised its stake in shares of Sonos by 30.9% in the first quarter. US Bancorp DE now owns 4,646 shares of the company's stock worth $131,000 after buying an additional 1,098 shares during the period. Citigroup Inc. lifted its position in shares of Sonos by 60.1% during the 1st quarter. Citigroup Inc. now owns 152,623 shares of the company's stock valued at $4,307,000 after buying an additional 57,289 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Sonos by 62.3% during the 1st quarter. MetLife Investment Management LLC now owns 67,650 shares of the company's stock valued at $1,909,000 after acquiring an additional 25,963 shares during the period. Finally, Rhumbline Advisers increased its holdings in Sonos by 162.6% in the 1st quarter. Rhumbline Advisers now owns 325,035 shares of the company's stock worth $9,172,000 after acquiring an additional 201,273 shares in the last quarter. Institutional investors own 85.82% of the company's stock.

Sonos Company Profile

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.