Sonos (NASDAQ:SONO) Hits New 1-Year Low - Time to Sell?

Sonos, Inc. (NASDAQ:SONO - Get Free Report) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $7.72 and last traded at $8.98, with a volume of 6554673 shares traded. The stock had previously closed at $8.15.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group dropped their price target 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 reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Sonos in a report on Friday, February 7th.

Sonos Trading Down 0.1 %

The company's 50-day moving average is $11.59 and its 200-day moving average is $12.96. The firm has a market cap of $950.88 million, a price-to-earnings ratio of -13.99 and a beta of 2.01.

Sonos (NASDAQ:SONO - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.40 EPS 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%. Equities research analysts forecast that Sonos, Inc. will post -0.37 EPS for the current year.

Sonos declared that its Board of Directors has initiated a share repurchase program on Monday, February 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 147,157 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $9.17 per share, for a total transaction of $1,349,429.69. Following the transaction, the insider now owns 12,055,582 shares in the company, valued at $110,549,686.94. The trade was a 1.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Sonos

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 buying an additional 1,033 shares during the period. GAMMA Investing LLC lifted its stake in shares of Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after acquiring an additional 1,352 shares during the period. SG Americas Securities LLC lifted its stake in shares of Sonos by 4.2% in the fourth quarter. SG Americas Securities LLC now owns 40,839 shares of the company's stock worth $614,000 after acquiring an additional 1,644 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Sonos by 191.2% in the fourth 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 position in Sonos by 4.0% during the 4th quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company's stock valued at $702,000 after purchasing an additional 1,782 shares during the period. Institutional investors own 85.82% of the company's stock.

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.