Sonos, Inc. (NASDAQ:SONO – Get Free Report) has earned an average recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $20.00.
Several analysts have weighed in on SONO shares. Weiss Ratings raised Sonos from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. Rosenblatt Securities reissued a “buy” rating and set a $21.00 price objective on shares of Sonos in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Sonos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st.
View Our Latest Stock Analysis on Sonos
Sonos Stock Performance
Insider Activity at Sonos
In other news, Director Julius Genachowski sold 19,855 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the transaction, the director owned 53,775 shares of the company’s stock, valued at $914,175. This represents a 26.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is owned by insiders.
Institutional Trading of Sonos
Hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its stake in Sonos by 307.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock valued at $31,000 after acquiring an additional 1,330 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Sonos by 699.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock worth $36,000 after purchasing an additional 1,798 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Sonos in the 4th quarter worth about $50,000. Quarry LP boosted its holdings in shares of Sonos by 485.8% in the 3rd quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after purchasing an additional 2,696 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Sonos in the 4th quarter worth about $64,000. 85.82% of the stock is owned by institutional investors.
About Sonos
Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.
Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.
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