Intech Investment Management LLC purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 24,635 shares of the company’s stock, valued at approximately $364,000.
Other large investors have also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of Sonos by 376.7% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after buying an additional 1,571 shares in the last quarter. Quest Partners LLC boosted its stake in Sonos by 138.8% during the second quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after acquiring an additional 2,819 shares in the last quarter. nVerses Capital LLC bought a new position in Sonos during the second quarter worth $81,000. Quent Capital LLC acquired a new stake in Sonos in the first quarter worth $95,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Sonos during the fourth quarter valued at about $112,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.
Sonos Stock Performance
SONO stock opened at $12.15 on Friday. The business has a 50-day simple moving average of $12.25 and a two-hundred day simple moving average of $15.10. Sonos, Inc. has a 52-week low of $9.78 and a 52-week high of $19.76. The company has a market capitalization of $1.47 billion, a P/E ratio of -34.71 and a beta of 2.04.
Insider Activity at Sonos
In other Sonos news, insider Christopher Scott Mason sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $14.45, for a total value of $144,500.00. Following the completion of the sale, the insider now directly owns 122,009 shares of the company’s stock, valued at $1,763,030.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Shamayne Braman sold 6,438 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $11.56, for a total value of $74,423.28. Following the sale, the insider now owns 26,588 shares of the company’s stock, valued at $307,357.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Mason sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $14.45, for a total transaction of $144,500.00. Following the sale, the insider now owns 122,009 shares in the company, valued at $1,763,030.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,073 shares of company stock worth $346,129. Insiders own 3.30% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on SONO. Craig Hallum downgraded Sonos from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $10.00 in a research note on Thursday, August 8th. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $25.00 to $11.00 in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.25.
Check Out Our Latest Stock Analysis on Sonos
Sonos 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.
Read More
- Five stocks we like better than Sonos
- EV Stocks and How to Profit from Them
- Can Costco Stock Hit New Highs as Interest Rates Drop?
- Why Invest in High-Yield Dividend Stocks?
- These 3 Stocks Show How to Navigate Declining Consumer Confidence
- What is the Australian Securities Exchange (ASX)
- MicroStrategy’s Returns Are 3X Higher Than Bitcoin: Time to Buy?
Receive News & Ratings for Sonos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonos and related companies with MarketBeat.com's FREE daily email newsletter.