Sonos (NASDAQ:SONO) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Sonos, Inc. (NASDAQ:SONO)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.79 and traded as high as $17.78. Sonos shares last traded at $17.56, with a volume of 835,766 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on SONO. Morgan Stanley set a $17.00 price target on shares of Sonos and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Rosenblatt Securities increased their price objective on shares of Sonos from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Sonos in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Sonos from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.00.

Sonos Stock Performance

The stock has a 50-day moving average of $17.65 and a two-hundred day moving average of $14.84. The company has a market cap of $2.10 billion, a P/E ratio of -33.63 and a beta of 2.02.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.11). Sonos had a negative net margin of 4.24% and a negative return on equity of 11.66%. The company had revenue of $287.90 million for the quarter, compared to analysts’ expectations of $535.43 million. During the same period in the previous year, the firm earned ($0.44) earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity

In other Sonos news, insider Edward P. Lazarus sold 12,000 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $19.00, for a total value of $228,000.00. Following the sale, the insider owned 423,219 shares of the company’s stock, valued at $8,041,161. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Conrad bought 62,325 shares of Sonos stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $16.17 per share, with a total value of $1,007,795.25. Following the completion of the acquisition, the chief executive officer directly owned 305,103 shares in the company, valued at approximately $4,933,515.51. The trade was a 25.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd boosted its position in Sonos by 620.4% during the second quarter. Y Intercept Hong Kong Ltd now owns 185,149 shares of the company’s stock worth $2,001,000 after purchasing an additional 159,448 shares during the period. Teacher Retirement System of Texas boosted its position in Sonos by 25.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,158 shares of the company’s stock valued at $240,000 after buying an additional 4,530 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Sonos by 975.4% during the second quarter. Allianz Asset Management GmbH now owns 203,242 shares of the company’s stock worth $2,197,000 after purchasing an additional 184,342 shares during the period. Trexquant Investment LP acquired a new position in Sonos during the first quarter valued at approximately $1,224,000. Finally, Bryce Point Capital LLC bought a new stake in Sonos during the 2nd quarter worth approximately $182,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Company Profile

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.