Sonos, Inc. (NASDAQ:SONO) Insider Nicholas Millington Sells 7,730 Shares of Stock

Sonos, Inc. (NASDAQ:SONOGet Free Report) insider Nicholas Millington sold 7,730 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $14.70, for a total transaction of $113,631.00. Following the transaction, the insider now directly owns 371,614 shares of the company’s stock, valued at approximately $5,462,725.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sonos Stock Down 1.1 %

Sonos stock opened at $14.26 on Wednesday. Sonos, Inc. has a 52-week low of $9.78 and a 52-week high of $19.76. The firm’s fifty day moving average is $16.06 and its 200 day moving average is $17.11. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -40.74 and a beta of 1.98.

Sonos (NASDAQ:SONOGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.08). Sonos had a negative net margin of 2.82% and a negative return on equity of 0.44%. The business had revenue of $252.66 million for the quarter, compared to analysts’ expectations of $246.48 million. On average, equities research analysts anticipate that Sonos, Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $24.00 target price on shares of Sonos in a research report on Monday, March 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

View Our Latest Stock Analysis on Sonos

Institutional Investors Weigh In On Sonos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SONO. Algert Global LLC purchased a new stake in Sonos during the 3rd quarter valued at $186,000. Seven Eight Capital LP raised its stake in shares of Sonos by 390.1% in the third quarter. Seven Eight Capital LP now owns 65,720 shares of the company’s stock valued at $848,000 after acquiring an additional 52,311 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Sonos by 11.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,680,619 shares of the company’s stock worth $34,607,000 after acquiring an additional 278,129 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Sonos by 26.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,741,356 shares of the company’s stock worth $35,391,000 after acquiring an additional 576,939 shares during the last quarter. Finally, WNY Asset Management LLC boosted its stake in shares of Sonos by 6.3% during the 3rd quarter. WNY Asset Management LLC now owns 19,265 shares of the company’s stock worth $249,000 after purchasing an additional 1,150 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

About Sonos

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Sonos (NASDAQ:SONO)

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