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 business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $14.70, for a total value of $113,631.00. Following the completion of the sale, the insider now owns 371,614 shares of the company’s stock, valued at $5,462,725.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sonos Price Performance

Shares of Sonos stock opened at $14.26 on Wednesday. The stock has a market capitalization of $1.75 billion, a P/E ratio of -40.74 and a beta of 1.98. The business has a 50 day simple moving average of $16.06 and a two-hundred day simple moving average of $17.11. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $19.76.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.08). Sonos had a negative net margin of 2.82% and a negative return on equity of 0.44%. The firm had revenue of $252.66 million during the quarter, compared to analyst estimates of $246.48 million. As a group, research analysts anticipate that Sonos, Inc. will post 0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reissued a “buy” rating and issued a $24.00 price target on shares of Sonos in a report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sonos presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Hedge Funds Weigh In On Sonos

Several hedge funds and other institutional investors have recently modified their holdings of SONO. GAMMA Investing LLC acquired a new stake in Sonos in the 4th quarter valued at about $35,000. Covestor Ltd grew its position in shares of Sonos by 376.7% in the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock valued at $38,000 after purchasing an additional 1,571 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Sonos in the first quarter valued at approximately $95,000. Centaurus Financial Inc. acquired a new stake in shares of Sonos in the fourth quarter valued at approximately $112,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in Sonos during the fourth quarter worth approximately $175,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

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.