Sonos (NASDAQ:SONO) Director Karen Boone Sells 10,000 Shares

Sonos, Inc. (NASDAQ:SONO) Director Karen Boone sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $15.39, for a total value of $153,900.00. Following the sale, the director directly owned 84,271 shares of the company’s stock, valued at approximately $1,296,930.69. This trade represents a 10.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sonos Stock Performance

Shares of Sonos stock opened at $16.16 on Friday. Sonos, Inc. has a 52-week low of $12.44 and a 52-week high of $19.82. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 35.91 and a beta of 1.93. The company’s 50 day moving average price is $15.10 and its 200-day moving average price is $14.73.

Sonos (NASDAQ:SONO) last issued its earnings results on Wednesday, July 29th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.04 by $0.23. The company had revenue of $375.26 million for the quarter, compared to the consensus estimate of $365.65 million. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share. As a group, equities research analysts forecast that Sonos, Inc. will post 0.69 earnings per share for the current fiscal year.

Sonos News Roundup

Here are the key news stories impacting Sonos this week:

• Positive Sentiment: New premium products could support revenue growth: Sonos launched the Beam Ultra soundbar and $449 Ace Ultra headphones, both available for preorder. Positive early impressions and expanded premium offerings may help the company increase average selling prices and compete more effectively in home audio. Sonos Beam Ultra and Ace Ultra launch
• Positive Sentiment: Sonos 27 puts software and AI at the center of the ecosystem: The company’s major software update reportedly adds AI-powered control and new ways to manage audio devices. A stronger software layer could improve customer engagement, differentiate Sonos products and create longer-term ecosystem value. Sonos 27 AI software update
• Positive Sentiment: Third-party integrations broaden product appeal: Philips Hue’s ecosystem now includes Sonos, potentially making Sonos devices more useful in connected-home setups and increasing the value of its platform. Philips Hue Sonos integration
• Positive Sentiment: Early product feedback is encouraging: Initial reviews describe the Beam Ultra as sounding strong, supporting the company’s positioning in premium soundbars. Beam Ultra first listen review

Institutional Investors Weigh In On Sonos

A number of institutional investors have recently made changes to their positions in the company. Amundi lifted its position in Sonos by 36.4% in the 2nd quarter. Amundi now owns 47,353 shares of the company’s stock valued at $641,000 after acquiring an additional 12,649 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Sonos by 1,036.2% in the second quarter. California State Teachers Retirement System now owns 1,555,950 shares of the company’s stock worth $21,052,000 after purchasing an additional 1,419,010 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of Sonos during the second quarter valued at $128,000. Formula Growth Ltd. purchased a new stake in shares of Sonos during the second quarter valued at $676,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Sonos during the second quarter valued at $841,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

SONO has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 target price on shares of Sonos in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Sonos from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen cut Sonos from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sonos currently has a consensus rating of “Hold” and an average target price of $20.00.

About Sonos

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.