Insider Buying: Sonos, Inc. (NASDAQ:SONO) Director Purchases 22,850 Shares of Stock

Sonos, Inc. (NASDAQ:SONO) Director Julius Genachowski acquired 22,850 shares of the company’s stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $10.95 per share, with a total value of $250,207.50. Following the completion of the purchase, the director directly owned 124,396 shares of the company’s stock, valued at $1,362,136.20. This trade represents a 22.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sonos Stock Up 4.4%

SONO stock opened at $13.38 on Thursday. Sonos, Inc. has a twelve month low of $7.63 and a twelve month high of $15.89. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -20.58 and a beta of 2.04. The business’s fifty day simple moving average is $10.78 and its two-hundred day simple moving average is $10.95.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Sonos had a negative return on equity of 18.19% and a negative net margin of 5.41%. The company had revenue of $344.76 million during the quarter, compared to the consensus estimate of $324.66 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. Research analysts expect that Sonos, Inc. will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SONO shares. Rosenblatt Securities raised their target price on shares of Sonos from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Sonos from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd.

Hedge Funds Weigh In On Sonos

Institutional investors have recently modified their holdings of the stock. AlphaQuest LLC purchased a new stake in shares of Sonos in the first quarter valued at approximately $29,000. Nisa Investment Advisors LLC raised its position in Sonos by 65.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock valued at $35,000 after purchasing an additional 1,269 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Sonos by 222.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,714 shares of the company’s stock worth $40,000 after buying an additional 2,563 shares during the period. GAMMA Investing LLC grew its position in shares of Sonos by 96.3% during the 2nd quarter. GAMMA Investing LLC now owns 6,035 shares of the company’s stock worth $65,000 after buying an additional 2,961 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Sonos by 38.8% during the 1st quarter. Headlands Technologies LLC now owns 7,760 shares of the company’s stock worth $83,000 after buying an additional 2,168 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

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.