Sonos (NASDAQ:SONO) Shares Gap Up to $16.84

Sonos, Inc. (NASDAQ:SONOGet Rating)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $16.84, but opened at $17.31. Sonos shares last traded at $17.02, with a volume of 46,156 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. DA Davidson decreased their price objective on Sonos to $29.00 in a report on Monday, August 15th. Stifel Nicolaus decreased their price target on Sonos from $24.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, August 11th. Finally, Morgan Stanley decreased their price target on Sonos from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, October 17th.

Sonos Trading Down 1.4 %

The company has a 50 day moving average of $15.21 and a 200 day moving average of $18.12. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 3.15 and a beta of 1.92.

Hedge Funds Weigh In On Sonos

Several institutional investors have recently bought and sold shares of SONO. Public Employees Retirement System of Ohio raised its position 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 valued at $25,000 after purchasing an additional 777 shares during the last quarter. First Manhattan Co. bought a new position in Sonos in the 1st quarter valued at $36,000. FourThought Financial LLC bought a new position in Sonos in the 1st quarter valued at $37,000. Performa Ltd US LLC raised its position in Sonos by 100.0% in the 3rd quarter. Performa Ltd US LLC now owns 2,700 shares of the company’s stock valued at $38,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in Sonos by 339.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,012 shares of the company’s stock valued at $42,000 after purchasing an additional 2,327 shares during the last quarter. Institutional investors own 90.91% of the company’s stock.

Sonos Company Profile

(Get Rating)

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.

Featured Stories

Receive News & Ratings for Sonos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonos and related companies with MarketBeat.com's FREE daily email newsletter.