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Sonos Inc (SONO) Stock Could Soon Reward Patient Investors

Sonos Inc (NASDAQ: SONO) is 11.20% higher on its value in year-to-date trading and has touched a low of $9.78 and a high of $21.98 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SONO stock was last observed hovering at around $19.22 in the last trading session, with the day’s loss setting it -0.16%.

Currently trading at $19.06, the stock is 0.85% and 6.00% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.36 million and changing -0.83% at the moment leaves the stock 24.22% off its SMA200. SONO registered 2.03% gain for a year compared to 6-month gain of 51.27%. The firm has a 50-day simple moving average (SMA 50) of $1.23 and a 200-day simple moving average (SMA200) of $54.26.

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The stock witnessed a 1.06% loss in the last 1 month and extending the period to 3 months gives it a 9.23%, and is -2.31% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.50% over the week and 2.76% over the month.

Sonos Inc (SONO) has around 1867 employees, a market worth around $2.36B and $1.60B in sales. Fwd P/E is 37.16. Profit margin for the company is -0.28%. Distance from 52-week low is 94.89% and -13.28% from its 52-week high. The company has generated returns on investments over the last 12 months (-0.69%).

Sonos Inc quarterly earnings per share for the current quarter are estimated at -$0.46 with sales reaching $247.41M over the same period.The EPS is expected to grow by 527.08% this year, but quarterly earnings will post -0.10% year-over-year.

Sonos Inc (SONO) Top Institutional Holders

365 institutions hold shares in Sonos Inc (SONO), with institutional investors hold 91.45% of the company’s shares. The shares outstanding are 125.11M, and float is at 121.54M with Short Float at 4.70%. Institutions hold 89.78% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 20.04 million shares valued at $327.18 million. The investor’s holdings represent 15.62% of the SONO Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 14.18 million shares valued at $231.56 million to account for 11.06% of the shares outstanding. The other top investors are Coliseum Capital Management, Llc which holds 6.54 million shares representing 5.10% and valued at over $106.72 million, while Trigran Investments Inc holds 4.88% of the shares totaling 6.26 million with a market value of $102.25 million.

Sonos Inc (SONO) Insider Activity

The most recent transaction is an insider sale by Coles Joanna,the company’sDirector. SEC filings show that Coles Joanna sold 905 shares of the company’s common stock on Mar 04 ’24 at a price of $19.35 per share for a total of $17512.0. Following the sale, the insider now owns 13913.0 shares.

Sonos Inc disclosed in a document filed with the SEC on Feb 07 ’24 that Conrad Thomas (Director) sold a total of 5,337 shares of the company’s common stock. The trade occurred on Feb 07 ’24 and was made at $18.31 per share for $97720.0. Following the transaction, the insider now directly holds 37334.0 shares of the SONO stock.

Still, SEC filings show that on Feb 05 ’24, Coles Joanna (Director) disposed off 905 shares at an average price of $15.82 for $14317.0. The insider now directly holds 14,818 shares of Sonos Inc (SONO).

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