Sonder (NASDAQ:SOND) Cut to Market Perform at Oppenheimer

Oppenheimer cut shares of Sonder (NASDAQ:SOND – Get Rating) from an outperform rating to a market perform rating in a research note issued to investors on Monday, The Fly reports.

Other equities analysts also recently issued research reports about the stock. Citigroup decreased their price objective on shares of Sonder from $3.50 to $2.00 and set a buy rating for the company in a research note on Friday, March 3rd. JMP Securities restated a market outperform rating and issued a $2.75 price objective on shares of Sonder in a research note on Friday, April 14th.

Sonder Price Performance

Shares of NASDAQ SOND opened at $0.50 on Monday. The firm has a market cap of $108.65 million, a price-to-earnings ratio of -0.42 and a beta of 1.97. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.26. Sonder has a 52-week low of $0.27 and a 52-week high of $2.77. The business’s 50 day moving average is $0.56 and its two-hundred day moving average is $1.11.

Sonder (NASDAQ:SOND – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Sonder had a negative return on equity of 4,207.08% and a negative net margin of 51.65%. The company had revenue of $134.77 million for the quarter, compared to analysts’ expectations of $129.88 million.

Insider Activity

In related news, CEO Francis Davidson acquired 29,279 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was purchased at an average cost of $1.07 per share, for a total transaction of $31,328.53. Following the transaction, the chief executive officer now directly owns 3,444,579 shares of the company’s stock, valued at approximately $3,685,699.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Dominique Bourgault bought 100,000 shares of the stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of $0.32 per share, with a total value of $32,000.00. Following the purchase, the chief financial officer now owns 100,000 shares of the company’s stock, valued at $32,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Francis Davidson bought 29,279 shares of the stock in a transaction on Thursday, March 9th. The stock was purchased at an average cost of $1.07 per share, with a total value of $31,328.53. Following the completion of the purchase, the chief executive officer now directly owns 3,444,579 shares in the company, valued at approximately $3,685,699.53. The disclosure for this purchase can be found here. In the last three months, insiders purchased 189,188 shares of company stock worth $117,718. Company insiders own 13.30% of the company’s stock.

Institutional Trading of Sonder

Several institutional investors have recently made changes to their positions in SOND. JPMorgan Chase & Co. purchased a new stake in shares of Sonder during the 1st quarter valued at $54,000. Bank of New York Mellon Corp purchased a new stake in shares of Sonder during the 1st quarter valued at $149,000. BlackRock Inc. purchased a new stake in shares of Sonder during the 1st quarter valued at $4,936,000. Vanguard Group Inc. purchased a new stake in shares of Sonder during the 1st quarter valued at $5,353,000. Finally, Ergoteles LLC purchased a new stake in shares of Sonder during the 1st quarter valued at $114,000. 49.22% of the stock is owned by hedge funds and other institutional investors.

About Sonder

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Sonder Holdings Inc engages in the hospitality business. It operates and manages properties comprising 1-, 2-, and 3+ bedroom; and studio apartments, as well as 1-bedroom hotel rooms for leisure travelers and families, digital nomads, and professionals in North America, Europe, and the Middle East. As of December 31, 2021, it had approximately 7,600 live units across 38 markets and 10 countries, as well as approximately 10,500 additional contracted units.