Sonos Inc (NASDAQ:SONO)’s stock price rose 13.4% on Monday . The stock traded as high as $13.52 and last traded at $13.50, approximately 5,441,833 shares were traded during trading. An increase of 336% from the average daily volume of 1,248,141 shares. The stock had previously closed at $11.91.
SONO has been the subject of several analyst reports. ValuEngine upgraded Sonos from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James upgraded Sonos from an “outperform” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Monday. Finally, Zacks Investment Research downgraded Sonos from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.13.
The company has a debt-to-equity ratio of 0.10, a current ratio of 2.06 and a quick ratio of 2.02. The company has a market capitalization of $1.24 billion and a PE ratio of -56.25. The firm has a 50-day moving average of $11.00 and a 200 day moving average of $10.93.
Sonos (NASDAQ:SONO) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.10. Sonos had a return on equity of 8.69% and a net margin of 1.86%. The company had revenue of $260.12 million for the quarter, compared to analysts’ expectations of $245.54 million. During the same period last year, the firm posted ($0.45) earnings per share. Sonos’s revenue was up 24.8% compared to the same quarter last year.
In related news, insider Nicholas Millington sold 16,893 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $11.48, for a total transaction of $193,931.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 15.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SONO. BlackRock Inc. raised its position in shares of Sonos by 1.7% in the fourth quarter. BlackRock Inc. now owns 990,232 shares of the company’s stock valued at $9,724,000 after purchasing an additional 16,322 shares during the period. Bank of New York Mellon Corp increased its position in Sonos by 41.8% during the fourth quarter. Bank of New York Mellon Corp now owns 57,103 shares of the company’s stock worth $561,000 after acquiring an additional 16,843 shares during the period. Northern Trust Corp increased its position in Sonos by 349.5% during the fourth quarter. Northern Trust Corp now owns 174,225 shares of the company’s stock worth $1,711,000 after acquiring an additional 135,469 shares during the period. Geode Capital Management LLC increased its position in Sonos by 39.0% during the fourth quarter. Geode Capital Management LLC now owns 218,377 shares of the company’s stock worth $2,144,000 after acquiring an additional 61,229 shares during the period. Finally, Bank of America Corp DE increased its position in Sonos by 69.8% during the fourth quarter. Bank of America Corp DE now owns 10,009 shares of the company’s stock worth $98,000 after acquiring an additional 4,113 shares during the period. 60.25% of the stock is currently owned by institutional investors.
About Sonos (NASDAQ:SONO)
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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