Analysts Set Sonos, Inc. (NASDAQ:SONO) PT at $21.00

Shares of Sonos, Inc. (NASDAQ:SONO) have been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $21.00.

A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $24.00 target price on shares of Sonos in a research note on Monday, March 25th. Finally, TheStreet raised shares of Sonos from a “d+” rating to a “c-” rating in a research report on Wednesday, February 14th.

Sonos Stock Performance

Shares of NASDAQ:SONO opened at $17.88 on Tuesday. The business has a 50 day moving average price of $18.21 and a 200 day moving average price of $16.36. Sonos has a twelve month low of $9.78 and a twelve month high of $21.98.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.22. The firm had revenue of $612.87 million for the quarter, compared to analyst estimates of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. Research analysts forecast that Sonos will post 0.31 EPS for the current fiscal year.

Insider Transactions at Sonos

In related news, insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the completion of the sale, the insider now owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the transaction, the insider now owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Conrad sold 5,337 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total value of $97,720.47. Following the completion of the transaction, the director now owns 37,334 shares in the company, valued at approximately $683,585.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,147 shares of company stock worth $484,972. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Sonos

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in shares of Sonos in the 4th quarter valued at $35,000. Quent Capital LLC acquired a new position in Sonos in the first quarter valued at about $95,000. Centaurus Financial Inc. bought a new position in Sonos during the fourth quarter worth about $112,000. Ieq Capital LLC acquired a new position in shares of Sonos during the 3rd quarter worth about $132,000. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Sonos by 16.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company’s stock valued at $160,000 after acquiring an additional 1,755 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

About Sonos

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.