Sonos (NASDAQ:SONO) Sets New 1-Year High - What's Next?

Key Points

• Sonos, Inc. (NASDAQ:SONO) shares reached a new 52-week high of $16.26, with recent trading seeing a volume of 109,750 shares.
• Analysts have set a consensus rating of "Buy" for Sonos, with target prices ranging from $15.00 to $17.00.
• CEO Thomas Conrad notably increased his stake in Sonos by purchasing 92,300 shares at an average cost of $11.10 per share.

Sonos, Inc. (NASDAQ:SONO - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.07 and last traded at $16.26, with a volume of 109750 shares. The stock had previously closed at $15.80.

Analysts Set New Price Targets

SONO has been the topic of a number of recent research reports. Rosenblatt Securities reissued a "buy" rating and issued a $17.00 target price on shares of Sonos in a research note on Wednesday, August 20th. Wall Street Zen raised Sonos from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Sonos presently has a consensus rating of "Buy" and an average price target of $15.00.

Sonos Price Performance

The company has a market capitalization of $1.95 billion, a PE ratio of -24.81 and a beta of 2.17. The firm has a 50-day moving average of $13.47 and a 200 day moving average of $11.25.

Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Sonos had a negative net margin of 5.41% and a negative return on equity of 18.19%. The business had revenue of $344.76 million for the quarter, compared to analysts' expectations of $324.66 million. During the same period last year, the business earned $0.03 earnings per share. The company's quarterly revenue was down 13.2% on a year-over-year basis. Equities analysts expect that Sonos, Inc. will post -0.37 EPS for the current year.

Insider Transactions at Sonos

In other news, CEO Thomas Conrad bought 92,300 shares of the company's stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $11.10 per share, with a total value of $1,024,530.00. Following the completion of the transaction, the chief executive officer owned 242,778 shares of the company's stock, valued at approximately $2,694,835.80. This trade represents a 61.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Julius Genachowski bought 22,850 shares of the company's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $10.95 per share, for a total transaction of $250,207.50. Following the completion of the transaction, the director directly owned 124,396 shares of the company's stock, valued at approximately $1,362,136.20. The trade was a 22.50% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,875,053 shares of company stock valued at $20,886,926. Company insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SONO. AlphaQuest LLC bought a new position in shares of Sonos in the first quarter worth about $29,000. Nisa Investment Advisors LLC raised its stake in shares of Sonos by 65.6% in the second quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company's stock worth $35,000 after buying an additional 1,269 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Sonos by 222.7% in the second quarter. Farther Finance Advisors LLC now owns 3,714 shares of the company's stock worth $40,000 after buying an additional 2,563 shares during the period. GAMMA Investing LLC raised its stake in shares of Sonos by 96.3% in the second quarter. GAMMA Investing LLC now owns 6,035 shares of the company's stock worth $65,000 after buying an additional 2,961 shares during the period. Finally, Headlands Technologies LLC raised its stake in shares of Sonos by 38.8% in the first quarter. Headlands Technologies LLC now owns 7,760 shares of the company's stock worth $83,000 after buying an additional 2,168 shares during the period. 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.

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