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 business's stock in a transaction on Monday, May 6th. The stock was sold at an average price of $17.23, for a total value of $15,593.15. Following the transaction, the director now directly owns 22,759 shares of the company's stock, valued at approximately $392,137.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Thursday, April 4th, Joanna Coles sold 905 shares of Sonos stock. The stock was sold at an average price of $19.16, for a total value of $17,339.80.
• On Monday, March 4th, Joanna Coles sold 905 shares of Sonos stock. The stock was sold at an average price of $19.35, for a total value of $17,511.75.

Sonos Stock Performance

Shares of Sonos stock traded down $0.74 during midday trading on Wednesday, reaching $16.84. 3,751,403 shares of the company's stock traded hands, compared to its average volume of 1,938,273. The stock has a 50 day moving average of $18.15 and a 200-day moving average of $16.41. The company has a market cap of $2.09 billion, a PE ratio of -561.33 and a beta of 2.00. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $21.98.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SONO shares. Rosenblatt Securities reissued a "buy" rating and set a $24.00 price target on shares of Sonos in a report on Monday, March 25th. TheStreet raised Sonos from a "d+" rating to a "c-" rating in a report on Wednesday, February 14th. Finally, Morgan Stanley upped their target price on Sonos from $20.00 to $25.00 and gave the stock an "overweight" rating in a 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC raised its stake in Sonos by 4.6% during the 1st quarter. ProShare Advisors LLC now owns 24,973 shares of the company's stock valued at $476,000 after buying an additional 1,092 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Sonos by 63.4% in the first quarter. Russell Investments Group Ltd. now owns 550,010 shares of the company's stock worth $10,483,000 after buying an additional 213,387 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Sonos during the first quarter valued at approximately $342,000. Sei Investments Co. raised its position in Sonos by 0.4% in the first quarter. Sei Investments Co. now owns 315,913 shares of the company's stock worth $6,021,000 after acquiring an additional 1,354 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Sonos in the 1st quarter worth $1,402,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

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.

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