Sonos Inc (SONO) Director Michelangelo Volpi Sells 517,992 Shares

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Sonos Inc (NASDAQ:SONO) Director Michelangelo Volpi sold 517,992 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $10.51, for a total value of $5,444,095.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Michelangelo Volpi also recently made the following trade(s):

  • On Thursday, March 7th, Michelangelo Volpi sold 209,039 shares of Sonos stock. The shares were sold at an average price of $9.83, for a total value of $2,054,853.37.
  • On Tuesday, February 26th, Michelangelo Volpi sold 541,062 shares of Sonos stock. The shares were sold at an average price of $11.13, for a total value of $6,022,020.06.
  • On Friday, February 22nd, Michelangelo Volpi sold 793,476 shares of Sonos stock. The shares were sold at an average price of $11.13, for a total value of $8,831,387.88.
  • On Wednesday, February 20th, Michelangelo Volpi sold 466,799 shares of Sonos stock. The shares were sold at an average price of $11.38, for a total value of $5,312,172.62.

Shares of NASDAQ SONO traded down $0.06 during mid-day trading on Monday, reaching $10.46. The company had a trading volume of 618,882 shares, compared to its average volume of 1,374,415. Sonos Inc has a twelve month low of $9.23 and a twelve month high of $23.60. The company has a current ratio of 2.58, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.11 billion and a PE ratio of -43.58.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.13. Sonos had a net margin of 0.85% and a return on equity of 6.88%. The business had revenue of $210.20 million for the quarter, compared to the consensus estimate of $213.42 million. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Sonos by 127.4% during the first quarter. JPMorgan Chase & Co. now owns 2,073,157 shares of the company’s stock valued at $21,332,000 after acquiring an additional 1,161,411 shares during the period. Greenspring Associates Inc. acquired a new position in Sonos in the fourth quarter worth about $17,360,000. Spark Investment Management LLC raised its position in Sonos by 429.4% in the first quarter. Spark Investment Management LLC now owns 1,470,400 shares of the company’s stock worth $15,130,000 after purchasing an additional 1,192,658 shares in the last quarter. Vanguard Group Inc acquired a new position in Sonos in the third quarter worth about $17,459,000. Finally, Vanguard Group Inc. acquired a new position in Sonos in the third quarter worth about $17,459,000. 50.42% of the stock is currently owned by institutional investors and hedge funds.

SONO has been the topic of several recent analyst reports. ValuEngine downgraded shares of Sonos from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research raised shares of Sonos from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Saturday. Stifel Nicolaus cut their target price on shares of Sonos from $20.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, February 7th. Morgan Stanley raised shares of Sonos from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $20.00 to $15.00 in a research note on Monday, January 28th. Finally, DA Davidson initiated coverage on shares of Sonos in a research note on Monday, April 1st. They set a “buy” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $19.75.

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About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.

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