Shares of Sonos, Inc. (NASDAQ:SONO - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $8.88 and last traded at $8.90, with a volume of 4939754 shares traded. The stock had previously closed at $10.77.
Analyst Ratings Changes
Several research firms have commented on SONO. Rosenblatt Securities reiterated a "buy" rating and issued a $18.00 price objective on shares of Sonos in a report on Friday, February 7th. Jefferies Financial Group decreased their price target on shares of Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday.
View Our Latest Research Report on SONO
Sonos Stock Down 0.2 %
The stock has a fifty day moving average price of $12.38 and a two-hundred day moving average price of $13.17. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -15.02 and a beta of 2.01.
Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. Analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.
Sonos announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Insider Buying and Selling
In other news, major shareholder Coliseum Capital Management, L acquired 62,506 shares of Sonos stock in a transaction on Monday, April 7th. The shares were purchased 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 directly owns 12,118,088 shares of the company's stock, valued at approximately $101,549,577.44. This represents a 0.52 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.
Institutional Trading of Sonos
Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sonos by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,501 shares of the company's stock valued at $1,030,000 after purchasing an additional 1,033 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sonos by 50.1% during the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after buying an additional 1,352 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Sonos by 4.2% during the 4th quarter. SG Americas Securities LLC now owns 40,839 shares of the company's stock worth $614,000 after buying an additional 1,644 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake 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 buying an additional 1,721 shares in the last quarter. Finally, Ironwood Investment Management LLC grew its position in Sonos by 4.0% in the fourth quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company's stock valued at $702,000 after acquiring an additional 1,782 shares during the last quarter. Institutional investors own 85.82% of the company's stock.
Sonos Company Profile
(
Get Free Report)
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.
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