Sonos, Inc. (NASDAQ:SONO) Receives $21.00 Consensus PT from Brokerages

Shares of Sonos, Inc. (NASDAQ:SONO) have been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $21.00.

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $24.00 price objective on shares of Sonos in a research note on Monday, March 25th.

Insider Buying and Selling at Sonos

In other news, insider Christopher Scott Mason sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $17.57, for a total transaction of $351,400.00. Following the transaction, the insider now owns 122,009 shares in the company, valued at approximately $2,143,698.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Sonos news, insider Maxime Bouvat-Merlin sold 40,222 shares of Sonos stock in a transaction on Monday, May 20th. The shares were sold at an average price of $16.54, for a total transaction of $665,271.88. Following the sale, the insider now owns 24,650 shares in the company, valued at $407,711. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $17.57, for a total transaction of $351,400.00. Following the completion of the transaction, the insider now owns 122,009 shares of the company’s stock, valued at approximately $2,143,698.13. The disclosure for this sale can be found here. Insiders sold a total of 102,032 shares of company stock valued at $1,710,805 in the last ninety days. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Sonos

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tabor Asset Management LP bought a new position in shares of Sonos during the 4th quarter worth approximately $2,257,000. NewEdge Wealth LLC bought a new stake in Sonos during the 4th quarter worth approximately $7,453,000. Point72 Hong Kong Ltd acquired a new stake in Sonos during the 4th quarter valued at $9,677,000. Dynamic Technology Lab Private Ltd acquired a new position in Sonos in the fourth quarter worth $1,546,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sonos by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,312,778 shares of the company’s stock valued at $16,948,000 after buying an additional 87,341 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Stock Up 1.5 %

NASDAQ:SONO opened at $14.82 on Wednesday. The company’s 50 day moving average is $16.41 and its 200-day moving average is $17.19. Sonos has a 12 month low of $9.78 and a 12 month high of $19.76. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -42.34 and a beta of 1.99.

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

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.