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 $19,702 were sold by Coles Joanna on Aug 03. At $21.77 per share, Coles Joanna sold 905 shares. The insider’s holdings dropped to 21,097 shares worth approximately $0.3 million following the completion of this transaction.
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Also, Spence Patrick sold 65,237 shares, netting a total of over 1,236,743 in proceeds. Following the sale of shares at $18.96 each, the insider now holds 727,690 shares.
Before that, Coles Joanna had sold 905 shares from its account. In a trade valued at $18,100, the Director traded Sonos Inc. shares for $20.00 each. Upon closing the transaction, the insider’s holdings decreased to 905 shares, worth approximately $0.32 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 48.71% premium over Thursday’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 Thursday, Sonos Inc. [NASDAQ: SONO] plunged -1.31% to $14.36. The stock’s lowest price that day was $14.22, but it reached a high of $14.585 in the same session. During the last five days, there has been a drop of approximately -7.65%. Over the course of the year, Sonos Inc. shares have dropped approximately -51.81%. Shares of the company reached a 52-week high of $31.22 on 03/29/22 and a 52-week low of $14.22 on 09/22/22. A 50-day SMA is recorded $17.97, while a 200-day SMA reached $23.14. Nevertheless, trading volume fell to 1.85 million shares from 1.94 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 14.19, which, if violated, would cause prices to drop to 14.02. In the upper region, resistance lies at 14.56. The next price resistance is at 14.75. RSI (Relative Strength Index) is 29.48 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.63, which suggests the price will decrease in the coming days. Percent R is at 93.36%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Sonos Inc. subject to short interest?
Stocks of Sonos Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.9 million shares to 11.64 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.54 million shares. A decline of -7.73% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.28 of the overall float, the days-to-cover ratio (short ratio) decline to 5.28.
Which companies own the most shares of Sonos Inc. (SONO)?
According to BlackRock Fund Advisors filings, the company currently owns 18,605,597 shares, which is about 14.62% of the total SONO shares outstanding. The investor’s shares have plunged by -277,092 from its previous 13-F filing of 18882689.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $201,387,766. Coliseum Capital Management LLC acquire a 28.39% interest valued at $104.9 million while American Century Investment Manag sold a -155,466 stake. A total of 126,922 shares of Sonos Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 269,563 were bought by Thrivent Asset Management LLC. In its current portfolio, Franklin Advisers, Inc. holds 3,200,071 shares valued at $48.13 million.
In terms of Sonos Inc. share price expectations, FactSet research, analysts set an average price target of $22.83 in the next 12 months, up nearly 54.64% from the previous closing price of $14.55. Analysts anticipate Sonos Inc. stock to reach $29.00 by 2022, with the lowest price target being $17.00. In spite of this, 8 analysts ranked Sonos Inc. stock as an Overweight at the end of 2022.