Raymond James Financial Services Advisors Inc. Buys 14,680 Shares of Sonos, Inc. (NASDAQ:SONO)

Raymond James Financial Services Advisors Inc. increased its stake in Sonos, Inc. (NASDAQ:SONO) by 111.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,877 shares of the company’s stock after purchasing an additional 14,680 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Sonos were worth $478,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. First Manhattan Co. bought a new stake in shares of Sonos during the 1st quarter valued at $36,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Sonos by 74.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock valued at $25,000 after buying an additional 777 shares in the last quarter. State of Wyoming bought a new stake in shares of Sonos during the 2nd quarter valued at $31,000. Pacific Center for Financial Services bought a new stake in shares of Sonos during the 1st quarter valued at $39,000. Finally, Money Concepts Capital Corp boosted its holdings in shares of Sonos by 3,649.3% during the 4th quarter. Money Concepts Capital Corp now owns 2,812 shares of the company’s stock valued at $48,000 after buying an additional 2,737 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

Insider Activity at Sonos

In related news, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total transaction of $97,720.47. Following the completion of the transaction, the director now directly owns 37,334 shares in the company, valued at approximately $683,585.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. Following the completion of the transaction, the insider now directly owns 119,179 shares in the company, valued at approximately $2,099,933.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Conrad sold 5,337 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total value of $97,720.47. Following the completion of the transaction, the director now owns 37,334 shares of the company’s stock, valued at $683,585.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,147 shares of company stock worth $484,972. 3.30% of the stock is owned by company insiders.

Sonos Trading Up 0.2 %

Shares of NASDAQ:SONO opened at $16.91 on Friday. The stock has a 50 day moving average of $18.51 and a 200 day moving average of $15.89. The company has a market cap of $2.09 billion, a PE ratio of -563.67 and a beta of 1.99. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $21.98.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.22. The company 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%. Equities research analysts predict that Sonos, Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SONO has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $24.00 price target on shares of Sonos in a research report on Monday, March 25th. Finally, TheStreet raised Sonos from a “d+” rating to a “c-” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Sonos presently has a consensus rating of “Moderate Buy” and a consensus target price 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.