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

Sonos, Inc. (NASDAQ:SONO) Director Joanna Coles sold 905 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $17.23, for a total transaction of $15,593.15. Following the sale, the director now owns 22,759 shares in the company, valued at approximately $392,137.57. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction 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 transaction of $17,511.75.

Sonos Price Performance

SONO stock opened at $17.25 on Friday. The stock has a market capitalization of $2.14 billion, a P/E ratio of -575.00 and a beta of 2.00. Sonos, Inc. has a 1-year low of $9.78 and a 1-year high of $21.98. The business has a fifty day moving average price of $18.11 and a 200-day moving average price of $16.41.

Sonos (NASDAQ:SONO) last issued its earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.22. The business had revenue of $612.87 million during the quarter, compared to analyst estimates 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, analysts anticipate that Sonos, Inc. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sonos by 7.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,297 shares of the company’s stock valued at $1,037,000 after buying an additional 5,892 shares during the last quarter. Meitav Investment House Ltd. lifted its holdings in Sonos by 9.5% in the third quarter. Meitav Investment House Ltd. now owns 230,689 shares of the company’s stock valued at $2,945,000 after acquiring an additional 20,100 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Sonos by 0.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,013,939 shares of the company’s stock worth $13,090,000 after purchasing an additional 8,802 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Sonos by 16.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company’s stock valued at $160,000 after purchasing an additional 1,755 shares during the period. Finally, EFG Asset Management North America Corp. increased its position in shares of Sonos by 13.3% during the 3rd quarter. EFG Asset Management North America Corp. now owns 52,948 shares of the company’s stock valued at $683,000 after purchasing an additional 6,203 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SONO. Rosenblatt Securities restated a “buy” rating and issued a $24.00 price target on shares of Sonos in a research note on Monday, March 25th. Morgan Stanley raised 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. Finally, TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Sonos has an average rating of “Moderate Buy” and an average price target of $21.00.

Sonos Company Profile

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.