Sonos, Inc. (NASDAQ:SONO – Get Free Report)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $12.78 and last traded at $12.84, with a volume of 57681 shares trading hands. The stock had previously closed at $12.84.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. DA Davidson upped their target price on shares of Sonos from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Rosenblatt Securities began coverage on shares of Sonos in a report on Wednesday. They set a “buy” rating and a $20.00 price target for the company. Bank of America cut their price target on shares of Sonos from $23.70 to $20.00 in a report on Thursday, August 10th. Finally, Craig Hallum began coverage on shares of Sonos in a report on Friday, September 8th. They set a “buy” rating and a $20.00 price target for the company.
Get Our Latest Stock Analysis on Sonos
Sonos Stock Up 2.2 %
Sonos (NASDAQ:SONO – Get Free Report) last issued its earnings results on Wednesday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.17. Sonos had a negative net margin of 2.59% and a negative return on equity of 2.77%. The company had revenue of $373.36 million during the quarter, compared to analysts’ expectations of $340.67 million. Analysts expect that Sonos, Inc. will post 0.37 EPS for the current year.
Insider Activity
In other news, insider Maxime Bouvat-Merlin sold 7,496 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $14.08, for a total value of $105,543.68. Following the sale, the insider now directly owns 21,681 shares in the company, valued at $305,268.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 9,306 shares of company stock worth $135,391 over the last ninety days. 3.13% of the stock is currently owned by insiders.
Institutional Trading of Sonos
Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in shares of Sonos by 3.4% in the 1st quarter. Rhumbline Advisers now owns 396,782 shares of the company’s stock valued at $7,785,000 after acquiring an additional 13,135 shares during the period. American Century Companies Inc. raised its stake in shares of Sonos by 103.0% in the 1st quarter. American Century Companies Inc. now owns 2,361,514 shares of the company’s stock valued at $44,963,000 after acquiring an additional 1,198,480 shares during the period. Sei Investments Co. increased its stake in Sonos by 11.2% during the 4th quarter. Sei Investments Co. now owns 282,773 shares of the company’s stock worth $4,779,000 after buying an additional 28,569 shares during the period. Strs Ohio purchased a new stake in Sonos during the 1st quarter worth $35,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Sonos by 0.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,335 shares of the company’s stock worth $5,351,000 after buying an additional 1,320 shares during the period. Institutional investors and hedge funds own 84.26% of the company’s stock.
Sonos Company Profile
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.
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