Christopher Scott Mason Sells 20,000 Shares of Sonos, Inc. (NASDAQ:SONO) Stock

Sonos, Inc. (NASDAQ:SONO) insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $15.44, for a total transaction of $308,800.00. Following the completion of the transaction, the insider now owns 122,009 shares of the company’s stock, valued at $1,883,818.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Christopher Scott Mason also recently made the following trade(s):

• On Wednesday, May 15th, Christopher Scott Mason sold 20,000 shares of Sonos stock. The stock was sold at an average price of $17.57, for a total transaction of $351,400.00.
• On Wednesday, April 10th, Christopher Scott Mason sold 20,000 shares of Sonos stock. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00.

Sonos Stock Performance

NASDAQ:SONO opened at $14.79 on Thursday. The firm has a fifty day simple moving average of $16.52 and a two-hundred day simple moving average of $17.21. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $19.76.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.08). The company had revenue of $252.66 million during the quarter, compared to analyst estimates of $246.48 million. Sonos had a negative return on equity of 0.44% and a negative net margin of 2.82%. Equities research analysts anticipate that Sonos, Inc. will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Sonos

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Sonos by 1.2% in the first quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock valued at $271,627,000 after buying an additional 163,736 shares in the last quarter. Trigran Investments Inc. lifted its stake in shares of Sonos by 7.0% in the third quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock valued at $86,477,000 after buying an additional 436,696 shares in the last quarter. Hawk Ridge Capital Management LP lifted its stake in shares of Sonos by 382.6% in 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 buying an additional 3,248,148 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Sonos by 8.1% in the fourth quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock valued at $50,790,000 after buying an additional 221,875 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Sonos by 10.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,890,787 shares of the company’s stock valued at $55,098,000 after buying an additional 266,748 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $24.00 price objective 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 given a buy rating to the company’s 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.