Insider Selling: Sonos, Inc. (NASDAQ:SONO) Insider Sells 7,730 Shares of Stock

Sonos, Inc. (NASDAQ:SONO) insider Nicholas Millington sold 7,730 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $14.70, for a total transaction of $113,631.00. Following the transaction, the insider now directly owns 371,614 shares of the company’s stock, valued at approximately $5,462,725.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Sonos Price Performance

SONO opened at $14.52 on Thursday. The firm has a 50 day moving average price of $16.01 and a 200 day moving average price of $17.09. Sonos, Inc. has a 1 year low of $9.78 and a 1 year high of $19.76.

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 business had revenue of $252.66 million for 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%. As a group, analysts forecast that Sonos, Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $24.00 price objective on shares of Sonos in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Institutional Trading of Sonos

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. increased its position in Sonos by 10.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,890,787 shares of the company’s stock worth $55,098,000 after purchasing an additional 266,748 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Sonos by 5.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,706 shares of the company’s stock worth $1,501,000 after acquiring an additional 4,086 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Sonos by 4.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 139,576 shares of the company’s stock worth $2,657,000 after acquiring an additional 5,988 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Sonos by 11.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 128,751 shares of the company’s stock worth $2,454,000 after acquiring an additional 13,568 shares during the period. Finally, UniSuper Management Pty Ltd purchased a new position in Sonos in the 1st quarter worth approximately $561,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

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.