Investors Purchase Large Volume of Call Options on Sonos (NASDAQ:SONO)

Sonos, Inc. (NASDAQ:SONOGet Free Report) saw some unusual options trading activity on Wednesday. Traders acquired 3,182 call options on the stock. This is an increase of 207% compared to the typical volume of 1,035 call options.

Sonos Stock Up 17.1 %

Shares of SONO opened at $19.28 on Thursday. The business has a fifty day moving average of $16.48 and a 200 day moving average of $14.36. The company has a market cap of $2.39 billion, a PE ratio of -192.78, a P/E/G ratio of 17.36 and a beta of 1.94. Sonos has a 52-week low of $9.78 and a 52-week high of $21.98.

Sonos (NASDAQ:SONOGet Free Report) last released its earnings results on Wednesday, November 15th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm had revenue of $305.15 million during the quarter, compared to the consensus estimate of $305.79 million. Sonos had a positive return on equity of 3.59% and a negative net margin of 0.62%. As a group, research analysts anticipate that Sonos will post 0.23 earnings per share for the current fiscal year.

Insider Activity at Sonos

In other Sonos news, insider Maxime Bouvat-Merlin sold 6,917 shares of Sonos stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $11.27, for a total value of $77,954.59. Following the sale, the insider now directly owns 24,138 shares in the company, valued at approximately $272,035.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 8,727 shares of company stock valued at $106,878. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Sonos

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. raised its holdings in shares of Sonos by 5.5% in the first quarter. Ameritas Investment Partners Inc. now owns 9,948 shares of the company’s stock valued at $281,000 after acquiring an additional 519 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Sonos by 3.8% in the 1st quarter. ProShare Advisors LLC now owns 20,895 shares of the company’s stock worth $410,000 after purchasing an additional 762 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Sonos by 74.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock valued at $25,000 after purchasing an additional 777 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Sonos by 23.4% during the first quarter. Centaurus Financial Inc. now owns 4,481 shares of the company’s stock valued at $126,000 after buying an additional 849 shares during the period. Finally, Lazard Asset Management LLC raised its stake in Sonos by 22.0% in the third quarter. Lazard Asset Management LLC now owns 5,349 shares of the company’s stock worth $69,000 after buying an additional 964 shares in the last quarter. 84.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Rosenblatt Securities upped their price objective on Sonos from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America downgraded shares of Sonos from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $12.00 in a research note on Tuesday, November 7th. Finally, Morgan Stanley lifted their price objective on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sonos has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Read Our Latest Stock Report on Sonos

About Sonos

(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.

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