Maxime Bouvat-Merlin Sells 40,222 Shares of Sonos, Inc. (NASDAQ:SONO) Stock

Sonos, Inc. (NASDAQ:SONO) insider Maxime Bouvat-Merlin sold 40,222 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total transaction of $665,271.88. Following the completion of the transaction, the insider now directly owns 24,650 shares of the company’s stock, valued at approximately $407,711. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sonos Price Performance

SONO stock opened at $16.11 on Thursday. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $19.76. The company’s 50 day moving average is $17.73 and its two-hundred day moving average is $16.84.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SONO. Morgan Stanley lifted their price target on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $24.00 price target on shares of Sonos in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Sonos has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Trading of Sonos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Wealth LLC acquired a new position in shares of Sonos in the 4th quarter valued at $7,453,000. Jump Financial LLC increased its holdings in shares of Sonos by 955.5% in the 3rd quarter. Jump Financial LLC now owns 223,905 shares of the company’s stock valued at $2,891,000 after acquiring an additional 202,691 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Sonos in the 4th quarter valued at $1,546,000. First Eagle Investment Management LLC increased its holdings in shares of Sonos by 16.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 336,304 shares of the company’s stock valued at $4,342,000 after acquiring an additional 47,200 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Sonos by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,312,778 shares of the company’s stock valued at $16,948,000 after acquiring an additional 87,341 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

About Sonos

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.