Sonos, Inc. (SONO) – What Are Analysts Thinking About This Stock?

Shares of Sonos, Inc. (NASDAQ:SONO) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.00.

SONO has been the topic of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 target price on shares of Sonos in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Finally, Weiss Ratings upgraded shares of Sonos from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 13th.

Insider Activity at Sonos

In other Sonos news, Director Karen Boone sold 46,766 shares of Sonos stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $18.13, for a total transaction of $847,867.58. Following the transaction, the director directly owned 69,271 shares in the company, valued at approximately $1,255,883.23. The trade was a 40.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 19,855 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total transaction of $337,535.00. Following the sale, the director directly owned 53,775 shares in the company, valued at approximately $914,175. This trade represents a 26.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 76,621 shares of company stock worth $1,339,303. Corporate insiders own 1.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SONO. BlackRock Inc. acquired a new position in Sonos during the second quarter valued at $248,067,000. Arrowstreet Capital Limited Partnership lifted its stake in Sonos by 2.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock worth $44,319,000 after acquiring an additional 90,997 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sonos by 27.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,384,430 shares of the company’s stock worth $31,949,000 after acquiring an additional 506,566 shares during the period. Renaissance Technologies LLC boosted its position in Sonos by 258.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,706,501 shares of the company’s stock worth $22,867,000 after acquiring an additional 1,230,900 shares during the period. Finally, Systematic Financial Management LP boosted its position in Sonos by 10.7% during the 1st quarter. Systematic Financial Management LP now owns 1,306,859 shares of the company’s stock worth $17,512,000 after acquiring an additional 126,760 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Stock Down 2.4%

NASDAQ:SONO opened at $16.93 on Tuesday. The stock has a fifty day simple moving average of $16.34 and a 200 day simple moving average of $15.28. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 37.62 and a beta of 1.88. Sonos has a 1-year low of $12.44 and a 1-year high of $19.82.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.23. Sonos had a return on equity of 19.10% and a net margin of 3.82%. The firm had revenue of $375.26 million for the quarter, compared to the consensus estimate of $365.65 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts predict that Sonos will post 0.69 earnings per share for the current year.

About Sonos

Sonos, Inc is an audio technology company that develops and sells connected sound products and software for homes and other personal listening environments. Its products are designed to work together over wireless networks, allowing users to stream and control music, podcasts, television audio and other content through the Sonos app and compatible services.

The company’s product portfolio includes wireless home speakers, portable speakers, soundbars, home theater components, subwoofers and headphones.