Sonos, Inc. (NASDAQ:SONO) Director Joanna Coles Sells 905 Shares of Stock

Sonos, Inc. (NASDAQ:SONO) Director Joanna Coles sold 905 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $17.23, for a total value of $15,593.15. Following the sale, the director now owns 22,759 shares of the company’s stock, valued at $392,137.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Joanna Coles also recently made the following trade(s):

• On Thursday, April 4th, Joanna Coles sold 905 shares of Sonos stock. The shares were sold at an average price of $19.16, for a total value of $17,339.80.
• On Monday, March 4th, Joanna Coles sold 905 shares of Sonos stock. The shares were sold at an average price of $19.35, for a total value of $17,511.75.

Sonos Stock Down 4.2 %

Shares of NASDAQ SONO opened at $16.84 on Thursday. The firm’s 50-day moving average price is $18.15 and its two-hundred day moving average price is $16.41. Sonos, Inc. has a 52-week low of $9.78 and a 52-week high of $21.98. The stock has a market capitalization of $2.09 billion, a P/E ratio of -561.33 and a beta of 2.00.

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

Institutional Investors Weigh In On Sonos

A number of hedge funds have recently made changes to their positions in SONO. Trigran Investments Inc. increased its stake in shares of Sonos by 7.0% during the third quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock valued at $86,477,000 after acquiring an additional 436,696 shares during the period. Hawk Ridge Capital Management LP increased its stake in shares of Sonos by 382.6% during the third quarter. Hawk Ridge Capital Management LP now owns 4,097,212 shares of the company’s stock valued at $52,895,000 after acquiring an additional 3,248,148 shares during the period. Wellington Management Group LLP increased its stake in shares of Sonos by 8.1% during the fourth quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock valued at $50,790,000 after acquiring an additional 221,875 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Sonos by 11.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,680,619 shares of the company’s stock valued at $34,607,000 after acquiring an additional 278,129 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sonos by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,395,888 shares of the company’s stock valued at $23,926,000 after acquiring an additional 83,110 shares during the period. Institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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