Insider Selling: Sonos, Inc. (NASDAQ:SONO) CEO Sells $1,674,633.79 in Stock

Sonos, Inc. (NASDAQ:SONOGet Rating) CEO Patrick Spence sold 65,237 shares of the company’s stock in a transaction on Monday, April 18th. The shares were sold at an average price of $25.67, for a total transaction of $1,674,633.79. Following the completion of the sale, the chief executive officer now directly owns 668,969 shares in the company, valued at $17,172,434.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Sonos stock opened at $23.50 on Friday. The firm has a 50-day simple moving average of $26.52 and a two-hundred day simple moving average of $28.83. The company has a market cap of $3.00 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 1.47 and a beta of 1.83. Sonos, Inc. has a fifty-two week low of $21.46 and a fifty-two week high of $43.39.

Sonos (NASDAQ:SONOGet Rating) last issued its quarterly earnings data on Wednesday, February 9th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.14. The business had revenue of $664.48 million during the quarter, compared to the consensus estimate of $640.14 million. Sonos had a net margin of 8.63% and a return on equity of 39.60%. During the same quarter in the prior year, the firm posted $1.08 earnings per share. As a group, sell-side analysts expect that Sonos, Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zullo Investment Group Inc. acquired a new position in shares of Sonos during the 4th quarter worth about $30,000. Allworth Financial LP raised its position in shares of Sonos by 71.7% during the 1st quarter. Allworth Financial LP now owns 1,099 shares of the company’s stock worth $31,000 after purchasing an additional 459 shares during the last quarter. KRS Capital Management LLC acquired a new position in shares of Sonos during the 4th quarter worth about $35,000. National Bank of Canada FI acquired a new position in shares of Sonos during the 4th quarter worth about $40,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Sonos during the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Several equities research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Sonos from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, February 3rd. Stifel Nicolaus decreased their price objective on shares of Sonos from $40.00 to $34.00 in a research report on Thursday, February 10th. Finally, TheStreet upgraded shares of Sonos from a “c+” rating to a “b-” rating in a research report on Wednesday, February 9th.

Sonos Company Profile (Get Rating)

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

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