In a filing, Sonos Inc. revealed its Director Coles Joanna unloaded Company’s shares for reported $19702.0 on Aug 03. In the deal valued at $21.77 per share,905 shares were sold. As a result of this transaction, Coles Joanna now holds 21,097 shares worth roughly $ 0.33 million.
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Then, Spence Patrick sold 65,237 shares, generating $1,236,743 in total proceeds. Upon selling the shares at $18.96, the Chief Executive Officer now owns 727,690 shares.
Before that, Coles Joanna sold 905 shares. Sonos Inc. shares valued at $18,100 were divested by the Director at a price of $20.00 per share. As a result of the transaction, Coles Joanna now holds 22,002 shares, worth roughly $0.34 million.
Morgan Stanley downgraded its Sonos Inc. [SONO] rating to an Equal-weight from a an Overweight in a research note published on Monday, June 15, 2022; the price target was decreased to $28 from $38. PT values the company’s stock at a premium of 44.07 to its Monday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in mid August from “a Hold” to “a Buy”. Goldman also remained covering SONO and has increased its forecast on February 12, 2021 with a “Neutral” recommendation from previously “Sell” rating. BofA Securities revised its rating on October 15, 2020. It rated SONO as “a Buy” which previously was an “a Neutral”.
Price Performance Review of SONO
On Monday, Sonos Inc. [NASDAQ:SONO] saw its stock jump 0.71% to $15.66. On the same session, the stock had its day’s lowest price of $15.315, but rose to a high of $15.77. Over the last five days, the stock has lost -2.85%. Sonos Inc. shares have fallen nearly -47.45% since the year began. Nevertheless, the stocks have fallen -54.48% over the past one year. While a 52-week high of $35.46 was reached on 03/29/22, a 52-week low of $13.65 was recorded on 10/13/22. SMA at 50 days reached $14.92, while 200 days put it at $20.84. A total of 1.67 million shares were traded, compared to the trading of 2.65 million shares in the previous session.
Levels Of Support And Resistance For SONO Stock
The 24-hour chart illustrates a support level at 15.39, which if violated will result in even more drops to 15.13. On the upside, there is a resistance level at 15.85. A further resistance level may holdings at 16.04. The Relative Strength Index (RSI) on the 14-day chart is 56.09, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 32.64%. Stochastics %K at 55.65% indicates the stock is a holding.
How much short interest is there in Sonos Inc.?
A steep rise in short interest was recorded in Sonos Inc. stocks on Jul 14, 2022, dropping by -0.9 million shares to a total of 11.64 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 12.54 million shares. There was a decline of -7.73%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.17% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.28.
Sonos Inc. [SONO] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 18,605,597 shares, or roughly 14.62% of the outstanding SONO shares. In other words, the investor’s shares have fallen by -277,092 from its previous 13-F filing of 18882689.0. Additionally, The Vanguard Group, Inc. increased 1.00% of its stake after which the total value it holdings stand at $186,123,002, while Coliseum Capital Management LLC added 28.39% of its stake to hold $96.95 million in the firm. Over the last quarter, American Century Investment Manag sold -155,466 shares of Sonos Inc., while SSgA Funds Management, Inc. sold 126,922 shares. At present, Thrivent Asset Management LLC is holding 4,078,674 shares valued at $56.69 million. Franklin Advisers, Inc. owned 3,200,071 shares of the company at the time of its most recent 13F filing, worth $44.48 million.
According to FactSet, Sonos Inc.’s share price will average $22.37 in the next year, based on opinions of analysts polled by the firm. This is up nearly 44.69 percent from its previous closing price of $15.55. Analysts expect Sonos Inc. stock to reach the higher price of $29.00, while the lowest price estimate is $17.00. However, 8 analysts have rated SONO stock as an Overweight in their predictions for 2022.