Sonos (NASDAQ:SONO) Hits New 52-Week Low After Analyst Downgrade

Shares of Sonos, Inc. (NASDAQ:SONOGet Rating) reached a new 52-week low on Thursday after TheStreet downgraded the stock from a b- rating to a c rating. The stock traded as low as $18.92 and last traded at $19.01, with a volume of 5380338 shares traded. The stock had previously closed at $20.80.

SONO has been the subject of several other research reports. DA Davidson dropped their target price on shares of Sonos from $49.00 to $40.00 in a research report on Thursday. Stifel Nicolaus dropped their target price on shares of Sonos from $40.00 to $34.00 in a research report on Thursday, February 10th. Jefferies Financial Group decreased their price target on shares of Sonos from $50.00 to $45.00 in a report on Monday, May 9th. Finally, Morgan Stanley decreased their price target on shares of Sonos from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, February 3rd.

In related news, Director Joanna Coles sold 905 shares of the company’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $27.71, for a total value of $25,077.55. Following the completion of the transaction, the director now directly owns 24,717 shares of the company’s stock, valued at approximately $684,908.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew O. Siegel sold 97,454 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $25.04, for a total transaction of $2,440,248.16. The disclosure for this sale can be found here. Insiders sold a total of 163,596 shares of company stock valued at $4,139,960 in the last three months. 3.60% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Zullo Investment Group Inc. bought a new stake in Sonos during the 4th quarter worth about $30,000. Allworth Financial LP lifted its position in 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 buying an additional 459 shares in the last quarter. KRS Capital Management LLC bought a new stake in Sonos during the 4th quarter worth about $35,000. FourThought Financial LLC bought a new stake in shares of Sonos in the 1st quarter valued at about $37,000. Finally, National Bank of Canada FI bought a new stake in shares of Sonos in the 4th quarter valued at about $40,000. 91.37% of the stock is currently owned by hedge funds and other institutional investors.

The stock’s fifty day moving average price is $25.17 and its 200-day moving average price is $27.85. The company has a market capitalization of $2.89 billion, a P/E ratio of 23.10, a PEG ratio of 1.20 and a beta of 1.86.

Sonos (NASDAQ:SONOGet Rating) last issued its earnings results on Wednesday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Sonos had a net margin of 8.63% and a return on equity of 39.60%. During the same period in the previous year, the business posted $0.31 EPS. As a group, equities research analysts forecast that Sonos, Inc. will post 1.21 EPS for the current fiscal year.

About Sonos (NASDAQ:SONO)

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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