Sonos, Inc. (NASDAQ:SONO) Stock Short Interest Report for September

Sonos, Inc. (NASDAQ:SONO) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 14,464,055 shares, a growth of 55.4% from the September 15th total of 9,308,963 shares. Approximately 12.4% of the shares of the stock are short sold. Based on an average trading volume of 2,410,961 shares, the days-to-cover ratio is presently 6.0 days.

Sonos Price Performance

Shares of SONO stock traded down $0.80 during trading hours on Friday, reaching $16.89. 342,576 shares of the company were exchanged, compared to its average volume of 1,789,710. Sonos has a fifty-two week low of $12.44 and a fifty-two week high of $19.82. The stock’s fifty day moving average is $16.28 and its two-hundred day moving average is $15.23. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 37.61 and a beta of 1.88.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.23. The business had revenue of $375.26 million during the quarter, compared to analyst estimates of $365.65 million. Sonos had a net margin of 3.82% and a return on equity of 19.10%. Sonos’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. On average, research analysts anticipate that Sonos will post 0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen cut Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Weiss Ratings raised Sonos from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of Sonos in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Sonos has an average rating of “Hold” and an average price target of $20.00.

Insider Activity at Sonos

In related news, Director Julius Genachowski sold 19,855 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 $914,175. This represents a 26.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 46,766 shares of the firm’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $18.13, for a total value of $847,867.58. Following the sale, the director directly owned 69,271 shares of the company’s stock, valued at $1,255,883.23. This represents a 40.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,621 shares of company stock worth $1,339,303 over the last three months. 1.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Sonos by 8.4% during the 1st quarter. First Trust Advisors LP now owns 14,859 shares of the company’s stock worth $199,000 after acquiring an additional 1,155 shares in the last quarter. Fortitude Family Office LLC raised its position in Sonos by 325.3% during the third quarter. Fortitude Family Office LLC now owns 1,544 shares of the company’s stock valued at $28,000 after purchasing an additional 1,181 shares in the last quarter. GAMMA Investing LLC raised its position in Sonos by 15.5% during the third quarter. GAMMA Investing LLC now owns 9,373 shares of the company’s stock valued at $168,000 after purchasing an additional 1,258 shares in the last quarter. Allworth Financial LP raised its position in Sonos by 13.9% during the second quarter. Allworth Financial LP now owns 12,630 shares of the company’s stock valued at $171,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Leonteq Securities AG raised its position in Sonos by 45.2% during the first quarter. Leonteq Securities AG now owns 7,690 shares of the company’s stock valued at $103,000 after purchasing an additional 2,395 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

Sonos Company Profile

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.