Sonos (NASDAQ:SONO) Sets New 12-Month Low - Should You Sell?

Sonos, Inc. (NASDAQ:SONO - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $7.66 and last traded at $7.71, with a volume of 730330 shares. The stock had previously closed at $7.88.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SONO shares. Jefferies Financial Group dropped their target price on shares of Sonos from $19.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Rosenblatt Securities reissued a "buy" rating and set a $18.00 price target on shares of Sonos in a research note on Friday, February 7th.

Sonos Stock Up 4.8 %

The firm has a 50 day moving average of $11.10 and a 200-day moving average of $12.83. The company has a market cap of $961.00 million, a P/E ratio of -14.16 and a beta of 2.01.

Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. On average, research analysts predict that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Sonos announced that its Board of Directors has authorized a share repurchase program on Monday, February 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 62,506 shares of the firm's stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $8.38 per share, for a total transaction of $523,800.28. Following the completion of the purchase, the insider now owns 12,118,088 shares in the company, valued at $101,549,577.44. This represents a 0.52 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Sonos

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Sonos by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,501 shares of the company's stock worth $1,030,000 after acquiring an additional 1,033 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Sonos by 50.1% during the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after purchasing an additional 1,352 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Sonos by 4.2% during the fourth quarter. SG Americas Securities LLC now owns 40,839 shares of the company's stock worth $614,000 after purchasing an additional 1,644 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Sonos by 191.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock valued at $39,000 after acquiring an additional 1,721 shares during the last quarter. Finally, Ironwood Investment Management LLC increased its stake in shares of Sonos by 4.0% in the fourth quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company's stock worth $702,000 after acquiring an additional 1,782 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

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.