Several other research firms have also recently weighed in on SONO. Zacks Investment Research cut Sonos from a buy rating to a hold rating in a report on Tuesday, August 11th. TheStreet cut Sonos from a c- rating to a d rating in a report on Tuesday, August 18th. Jefferies Financial Group reiterated a hold rating and issued a $16.00 target price on shares of Sonos in a report on Monday, August 10th. ValuEngine cut Sonos from a buy rating to a hold rating in a report on Wednesday, August 12th. Finally, DA Davidson upped their target price on Sonos from $12.00 to $16.00 in a report on Tuesday, August 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $16.00.
NASDAQ:SONO opened at $14.70 on Friday. The stock has a market cap of $1.63 billion, a P/E ratio of -21.62 and a beta of 1.65. The company has a current ratio of 1.89, a quick ratio of 1.55 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average is $14.01 and its 200-day moving average is $12.03. Sonos has a 1-year low of $6.58 and a 1-year high of $17.83.
In other Sonos news, insider Nicholas Millington sold 30,450 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $16.87, for a total transaction of $513,691.50. Following the transaction, the insider now directly owns 56,405 shares in the company, valued at approximately $951,552.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 143,951 shares of company stock worth $2,326,593 over the last 90 days. Company insiders own 11.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Sonos by 22.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,356,581 shares of the company’s stock worth $107,627,000 after buying an additional 1,350,755 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Sonos by 7.7% during the 1st quarter. BlackRock Inc. now owns 5,018,336 shares of the company’s stock worth $42,557,000 after buying an additional 357,987 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Sonos during the 2nd quarter worth approximately $49,080,000. Trigran Investments Inc. boosted its holdings in shares of Sonos by 195.7% during the 1st quarter. Trigran Investments Inc. now owns 2,980,029 shares of the company’s stock worth $25,271,000 after buying an additional 1,972,159 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Sonos by 19.6% during the second quarter. Nuveen Asset Management LLC now owns 1,630,320 shares of the company’s stock worth $23,852,000 after purchasing an additional 266,614 shares during the period. Hedge funds and other institutional investors own 66.47% of the company’s stock.
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.
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