Insider Selling: Sonos, Inc. (NASDAQ:SONO) Insider Sells $113,631.00 in Stock

Sonos, Inc. (NASDAQ:SONO) insider Nicholas Millington sold 7,730 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $14.70, for a total value of $113,631.00. Following the transaction, the insider now directly owns 371,614 shares in the company, valued at approximately $5,462,725.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sonos Trading Up 1.8 %

NASDAQ SONO opened at $14.52 on Friday. The stock has a 50-day simple moving average of $16.01 and a 200 day simple moving average of $17.09. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $19.76.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.08). The company had revenue of $252.66 million during the quarter, compared to the consensus estimate of $246.48 million. Sonos had a negative net margin of 2.82% and a negative return on equity of 0.44%. As a group, equities analysts predict that Sonos, Inc. will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Sonos

Large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of Sonos by 8.1% in the fourth quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock worth $50,790,000 after acquiring an additional 221,875 shares in the last quarter. Tabor Asset Management LP bought a new stake in shares of Sonos in the fourth quarter worth about $2,257,000. NewEdge Wealth LLC bought a new stake in shares of Sonos in the fourth quarter worth about $7,453,000. Point72 Hong Kong Ltd bought a new stake in shares of Sonos in the fourth quarter worth about $9,677,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Sonos in the fourth quarter worth about $1,546,000. 85.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $24.00 price objective on shares of Sonos in a report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Sonos Company Profile

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.