Thomas Conrad Purchases 62,325 Shares of Sonos (NASDAQ:SONO) Stock

Sonos, Inc. (NASDAQ:SONO) CEO Thomas Conrad bought 62,325 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $16.17 per share, with a total value of $1,007,795.25. Following the acquisition, the chief executive officer directly owned 305,103 shares of the company’s stock, valued at approximately $4,933,515.51. This represents a 25.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sonos Trading Down 0.7%

SONO opened at $16.17 on Thursday. Sonos, Inc. has a twelve month low of $7.63 and a twelve month high of $18.06. The firm has a market capitalization of $1.94 billion, a PE ratio of -31.10 and a beta of 2.27. The firm’s 50-day moving average price is $16.41 and its 200 day moving average price is $13.09.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). The business had revenue of $287.90 million during the quarter, compared to analyst estimates of $535.43 million. Sonos had a negative net margin of 4.24% and a negative return on equity of 11.66%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) EPS. Sonos has set its Q1 2026 guidance at EPS. As a group, analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SONO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sonos in a research report on Wednesday, October 8th. Rosenblatt Securities lifted their price target on Sonos from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Morgan Stanley set a $17.00 price target on shares of Sonos and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Sonos from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.00.

Institutional Trading of Sonos

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in shares of Sonos during the first quarter worth $29,000. Nisa Investment Advisors LLC raised its holdings in shares of Sonos by 65.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock valued at $35,000 after buying an additional 1,269 shares during the period. Farther Finance Advisors LLC lifted its stake in Sonos by 222.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,714 shares of the company’s stock worth $40,000 after acquiring an additional 2,563 shares in the last quarter. Quarry LP boosted its holdings in Sonos by 485.8% during the 3rd quarter. Quarry LP now owns 3,251 shares of the company’s stock valued at $51,000 after acquiring an additional 2,696 shares during the period. Finally, GAMMA Investing LLC grew its position in Sonos by 96.3% in the 2nd quarter. GAMMA Investing LLC now owns 6,035 shares of the company’s stock valued at $65,000 after acquiring an additional 2,961 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

About Sonos

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.