Saturday, June 25, 2022

Selling Buzz: Sonos Inc. [SONO] Director Coles Joanna sells 905 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Sonos Inc. shares valued at $20,534 were sold by Coles Joanna on Jun 03. At $22.69 per share, Coles Joanna sold 905 shares. The insider’s holdings dropped to 22,907 shares worth approximately $0.44 million following the completion of this transaction.

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Also, Spence Patrick sold 65,237 shares, netting a total of over 1,674,947 in proceeds. Following the sale of shares at $25.67 each, the insider now holds 668,969 shares.

Before that, Coles Joanna had sold 905 shares from its account. In a trade valued at $25,078, the Director traded Sonos Inc. shares for $27.71 each. Upon closing the transaction, the insider’s holdings decreased to 905 shares, worth approximately $0.48 million.

As published in a research note from Morgan Stanley on June 15, 2022, Sonos Inc. [SONO] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $28 from $38. This represents a 30.86% premium over Wednesday’s closing price. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid August. As of February 12, 2021, Goldman has increased its “Sell” rating to a “Neutral” for SONO. Earlier on October 15, 2020, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for SONO stock which previously was a “a Neutral”.

Analyzing SONO’s Price Performance

On Wednesday, Sonos Inc. [NASDAQ: SONO] plunged -0.51% to $19.36. The stock’s lowest price that day was $19.10, but it reached a high of $19.80 in the same session. During the last five days, there has been a drop of approximately -1.22%. Over the course of the year, Sonos Inc. shares have dropped approximately -35.03%. Shares of the company reached a 52-week high of $31.22 on 03/29/22 and a 52-week low of $18.16 on 06/16/22. A 50-day SMA is recorded $22.23, while a 200-day SMA reached $28.04. Nevertheless, trading volume fell to 1.29 million shares from 2.43 million shares the previous day.

Support And Resistance Levels for Sonos Inc. (SONO)

According to the 24-hour chart, there is a support level at 19.04, which, if violated, would cause prices to drop to 18.72. In the upper region, resistance lies at 19.74. The next price resistance is at 20.12. RSI (Relative Strength Index) is 39.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.44, which suggests the price will decrease in the coming days. Percent R is at 75.61%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of Sonos Inc. (SONO)?

According to BlackRock Fund Advisors filings, the company currently owns 18,882,689 shares, which is about 14.77% of the total SONO shares outstanding. The investor’s shares have appreciated by 11,158,927 from its previous 13-F filing of 7723762.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $293,391,507. American Century Investment Manag acquire a 42.95% interest valued at $103.23 million while SSgA Funds Management, Inc. purchased a 1,812,340 stake. A total of 616,623 shares of Sonos Inc. were bought by Morgan Stanley Smith Barney LLC during the quarter, and 3,979,607 by Coliseum Capital Management LLC. In its current portfolio, Thrivent Asset Management LLC holds 3,809,111 shares valued at $84.3 million.

In spite of this, 8 analysts ranked Sonos Inc. stock as an Overweight at the end of 2022.

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