Sonos, Inc., together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com. The company was formerly known as Rincon Audio, Inc. and changed its name to Sonos, Inc. in May 2004. Sonos, Inc. was incorporated in 2002 and is headquartered in Santa Barbara, California.
Wall Street Analyst Weigh In
SONO has been the subject of several analyst reports. Morgan Stanley cut their price target on Sonos from $28.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, August 11th. DA Davidson dropped their price objective on Sonos to $29.00 in a report on Monday. Jefferies Financial Group dropped their price objective on Sonos from $45.00 to $35.00 in a report on Tuesday, May 31st. TheStreet downgraded Sonos from a "b-" rating to a "c" rating in a report on Wednesday, May 11th. Finally, Stifel Nicolaus dropped their price objective on Sonos from $24.00 to $20.00 and set a "hold" rating for the company in a report on Thursday, August 11th.
Sonos Stock Performance
Shares of SONO Stock opened at $17.10 on Friday. Sonos has a one year low of $16.79 and a one year high of $41.99. The company's 50-day simple moving average is $19.86 and its 200-day simple moving average is $23.11. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 3.31 and a beta of 1.91.
Insider Buying and Selling at Sonos
In related news, insider Matthew O. Siegel sold 202,945 shares of the firm's stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the completion of the sale, the insider now directly owns 68,339 shares in the company, valued at $1,315,525.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Matthew O. Siegel sold 202,945 shares of the firm's stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the completion of the sale, the insider now directly owns 68,339 shares in the company, valued at $1,315,525.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Spence sold 65,237 shares of the firm's stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $18.96, for a total transaction of $1,236,893.52. Following the sale, the chief executive officer now owns 727,690 shares of the company's stock, valued at $13,797,002.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,897 shares of company stock worth $5,201,921. 3.60% of the stock is owned by company insiders.