Insider Selling: Sonos Inc (NASDAQ:SONO) Insider Sells $513,691.50 in Stock

Sonos Inc (NASDAQ:SONO) insider Nicholas Millington sold 30,450 shares of Sonos stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $16.87, for a total transaction of $513,691.50. Following the sale, the insider now directly owns 56,405 shares of the company’s stock, valued at $951,552.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Nicholas Millington also recently made the following trade(s):

  • On Thursday, July 16th, Nicholas Millington sold 77,523 shares of Sonos stock. The stock was sold at an average price of $16.41, for a total transaction of $1,272,152.43.
  • On Monday, July 6th, Nicholas Millington sold 35,978 shares of Sonos stock. The stock was sold at an average price of $15.03, for a total transaction of $540,749.34.
  • On Tuesday, June 2nd, Nicholas Millington sold 35,978 shares of Sonos stock. The stock was sold at an average price of $10.97, for a total transaction of $394,678.66.
  • On Friday, May 1st, Nicholas Millington sold 34,022 shares of Sonos stock. The stock was sold at an average price of $9.62, for a total transaction of $327,291.64.

Shares of NASDAQ:SONO opened at $16.40 on Friday. Sonos Inc has a 12 month low of $6.58 and a 12 month high of $17.83. The company has a current ratio of 2.18, a quick ratio of 1.65 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $14.09 and a 200-day moving average price of $11.92. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -56.55 and a beta of 1.83.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.21). Sonos had a negative net margin of 1.95% and a negative return on equity of 8.14%. The company had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $195.39 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. Sonos’s quarterly revenue was down 16.6% compared to the same quarter last year. As a group, research analysts forecast that Sonos Inc will post -0.37 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathstone Family Office LLC purchased a new stake in Sonos in the first quarter worth about $29,000. Great West Life Assurance Co. Can purchased a new stake in Sonos in the fourth quarter worth about $46,000. Advisor Group Holdings Inc. purchased a new stake in Sonos in the first quarter worth about $56,000. Flagship Harbor Advisors LLC grew its holdings in shares of Sonos by 2,218.3% during the first quarter. Flagship Harbor Advisors LLC now owns 6,955 shares of the company’s stock valued at $59,000 after buying an additional 6,655 shares during the last quarter. Finally, Sciencast Management LP purchased a new stake in shares of Sonos during the first quarter valued at approximately $84,000. Institutional investors own 70.32% of the company’s stock.

SONO has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Sonos from $13.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. ValuEngine downgraded shares of Sonos from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Bank of America boosted their price target on shares of Sonos from $12.90 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Royal Bank of Canada upped their price objective on shares of Sonos from $12.00 to $19.00 in a research note on Tuesday, July 14th. Finally, Goldman Sachs Group downgraded shares of Sonos from a “buy” rating to a “sell” rating and lowered their price objective for the company from $20.00 to $7.50 in a research note on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Sonos has an average rating of “Buy” and a consensus price target of $17.13.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.

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