Insider Selling: Sonos, Inc. (NASDAQ:SONO) Insider Sells 20,000 Shares of Stock

Sonos, Inc. (NASDAQ:SONO) insider Christopher Scott Mason sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the completion of the sale, the insider now owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sonos Price Performance

Shares of SONO opened at $17.48 on Friday. The company has a market cap of $2.16 billion, a P/E ratio of -582.47 and a beta of 1.99. The stock has a fifty day moving average price of $18.58 and a 200 day moving average price of $15.77. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $21.98.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.22. The firm had revenue of $612.87 million during the quarter, compared to the consensus estimate of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. As a group, research analysts anticipate that Sonos, Inc. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. bought a new position in Sonos during the 1st quarter worth $36,000. Public Employees Retirement System of Ohio boosted its position in Sonos by 74.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock worth $25,000 after acquiring an additional 777 shares during the period. State of Wyoming acquired a new position in Sonos during the 2nd quarter worth $31,000. Pacific Center for Financial Services acquired a new position in Sonos during the 1st quarter worth $39,000. Finally, GAMMA Investing LLC acquired a new position in Sonos during the 4th quarter worth $35,000. 85.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $24.00 price target on shares of Sonos in a report on Monday, March 25th. Finally, TheStreet upgraded Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

About Sonos

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.