Sonos Inc (SONO) CFO Sells $350,100.00 in Stock

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Sonos Inc (NASDAQ:SONO) CFO Michael Giannetto sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $11.67, for a total transaction of $350,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Michael Giannetto also recently made the following trade(s):

  • On Monday, March 11th, Michael Giannetto sold 30,000 shares of Sonos stock. The shares were sold at an average price of $9.94, for a total transaction of $298,200.00.

Shares of NASDAQ:SONO traded up $0.03 during mid-day trading on Monday, reaching $11.96. 706,241 shares of the company’s stock were exchanged, compared to its average volume of 1,480,009. The firm has a market cap of $1.20 billion and a PE ratio of -49.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.63 and a current ratio of 2.03. Sonos Inc has a twelve month low of $9.23 and a twelve month high of $23.60.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Wednesday, February 6th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $496.00 million for the quarter, compared to analyst estimates of $490.66 million. The company’s revenue was up 193.5% compared to the same quarter last year. Sell-side analysts forecast that Sonos Inc will post -0.01 EPS for the current year.

Several large investors have recently modified their holdings of the company. Advisor Group Inc. increased its holdings in Sonos by 53.2% during the 4th quarter. Advisor Group Inc. now owns 4,377 shares of the company’s stock worth $43,000 after acquiring an additional 1,520 shares during the period. Great West Life Assurance Co. Can acquired a new position in shares of Sonos during the fourth quarter valued at about $44,000. North Star Investment Management Corp. acquired a new position in shares of Sonos during the first quarter valued at about $103,000. Bank of America Corp DE increased its holdings in shares of Sonos by 69.8% during the fourth quarter. Bank of America Corp DE now owns 10,009 shares of the company’s stock valued at $98,000 after acquiring an additional 4,113 shares in the last quarter. Finally, American International Group Inc. acquired a new position in shares of Sonos during the third quarter valued at about $171,000. Institutional investors own 48.25% of the company’s stock.

SONO has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Sonos from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. DA Davidson initiated coverage on shares of Sonos in a research report on Monday, April 1st. They issued a “buy” rating and a $20.00 target price on the stock. Stifel Nicolaus cut their target price on shares of Sonos from $20.00 to $14.00 and set a “hold” rating on the stock in a research report on Thursday, February 7th. Finally, Morgan Stanley upgraded shares of Sonos from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $20.00 to $15.00 in a research report on Monday, January 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $19.88.

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About Sonos

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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