Sonos, Inc. (NASDAQ:SONO – Get Free Report) Director Joanna Coles sold 905 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $15.66, for a total value of $14,172.30. Following the completion of the sale, the director now owns 16,628 shares in the company, valued at approximately $260,394.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sonos Stock Performance

SONO traded up $0.09 on Wednesday, hitting $15.85. The company had a trading volume of 2,772,120 shares, compared to its average volume of 2,052,277. The stock has a fifty day moving average price of $12.37 and a 200-day moving average price of $14.14. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $21.98. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -158.48, a P/E/G ratio of 17.19 and a beta of 1.97.

Hedge Funds Weigh In On Sonos

Several institutional investors and hedge funds have recently added to or reduced their stakes in SONO. Raymond James Financial Services Advisors Inc. grew its stake in Sonos by 9.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,381 shares of the company’s stock valued at $970,000 after purchasing an additional 2,830 shares during the last quarter. US Bancorp DE grew its stake in Sonos by 30.9% in the first quarter. US Bancorp DE now owns 4,646 shares of the company’s stock valued at $131,000 after purchasing an additional 1,098 shares during the last quarter. Citigroup Inc. grew its stake in shares of Sonos by 60.1% during the first quarter. Citigroup Inc. now owns 152,623 shares of the company’s stock worth $4,307,000 after acquiring an additional 57,289 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Sonos by 62.3% during the first quarter. MetLife Investment Management LLC now owns 67,650 shares of the company’s stock worth $1,909,000 after acquiring an additional 25,963 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Sonos by 162.6% during the first quarter. Rhumbline Advisers now owns 325,035 shares of the company’s stock worth $9,172,000 after acquiring an additional 201,273 shares during the last quarter. Hedge funds and other institutional investors own 84.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SONO has been the topic of a number of recent research reports. DA Davidson increased their price target on Sonos from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. TheStreet lowered Sonos from a “c-” rating to a “d+” rating in a research note on Thursday, September 21st. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Sonos in a research note on Monday, November 13th. Bank of America lowered Sonos from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $12.00 in a research note on Tuesday, November 7th. Finally, Craig Hallum began coverage on Sonos in a research note on Friday, September 8th. They set a “buy” rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.60.

Check Out Our Latest Report on Sonos

Sonos Company Profile (Get Free Report)

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.

Further Reading

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Original: MarketBeat News Feed: Sonos, Inc. (NASDAQ:SONO) Director Joanna Coles Sells 905 Shares