Sonos, Inc. (NASDAQ:SONO) Insider Sells $352,400.00 in Stock

Sonos, Inc. (NASDAQ:SONO - Get Free Report) insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the sale, the insider now directly owns 119,179 shares in the company, valued at $2,099,933.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Sonos Price Performance

Sonos stock traded down $0.32 during midday trading on Friday, reaching $17.48. The company had a trading volume of 1,151,368 shares, compared to its average volume of 2,063,859. The company has a market capitalization of $2.16 billion, a P/E ratio of -582.47 and a beta of 1.99. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $21.98. The firm's fifty day simple moving average is $18.58 and its 200-day simple moving average is $15.74.

Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.22. The firm had revenue of $612.87 million for the quarter, compared to analyst estimates 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 expect that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. First Manhattan Co. purchased a new position in Sonos in the 1st quarter worth approximately $36,000. Public Employees Retirement System of Ohio lifted its stake in Sonos by 74.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company's stock worth $25,000 after purchasing an additional 777 shares in the last quarter. State of Wyoming purchased a new position in Sonos in the 2nd quarter worth approximately $31,000. Pacific Center for Financial Services purchased a new position in Sonos in the 1st quarter worth approximately $39,000. Finally, GAMMA Investing LLC purchased a new position in Sonos in the 4th quarter worth approximately $35,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on SONO. Rosenblatt Securities reissued a "buy" rating and set a $24.00 target price on shares of Sonos in a research note on Monday, March 25th. TheStreet raised shares of Sonos from a "d+" rating to a "c-" rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley increased their target price on shares of Sonos from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sonos currently has an average rating of "Moderate Buy" and an average price target of $21.00.

About Sonos

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.