Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sonos Inc. shares valued at $105,531 were sold by Bouvat-Merlin Maxime on Aug 15. At $14.08 per share, Bouvat-Merlin Maxime sold 7,496 shares. The insider’s holdings dropped to 21,681 shares worth approximately $0.29 million following the completion of this transaction.
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Also, Coles Joanna sold 905 shares, netting a total of over 14,987 in proceeds. Following the sale of shares at $16.56 each, the insider now holds 20,248 shares.
Before that, Coles Joanna had sold 905 shares from its account. In a trade valued at $14,860, the Director traded Sonos Inc. shares for $16.42 each. Upon closing the transaction, the insider’s holdings decreased to 905 shares, worth approximately $0.29 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 51.46% premium over Thursday’s closing price.
Analyzing SONO Stock Performance
On Thursday, Sonos Inc. [NASDAQ: SONO] plunged -1.38% to $13.59. The stock’s lowest price that day was $13.555, but it reached a high of $13.89 in the same session. During the last five days, there has been a drop of approximately -1.95%. Over the course of the year, Sonos Inc. shares have dropped approximately -19.59%. Shares of the company reached a 52-week high of $21.98 on 05/10/23 and a 52-week low of $13.55 on 08/18/23. A 50-day SMA is recorded $15.88, while a 200-day SMA reached $17.70. Nevertheless, trading volume fell to 1.88 million shares from 1.95 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 13.47, which, if violated, would cause prices to drop to 13.34. In the upper region, resistance lies at 13.80. The next price resistance is at 14.01. RSI (Relative Strength Index) is 28.21 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.62, which suggests the price will decrease in the coming days. Percent R is at 98.87%, 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 rise in short interest on Jul 30, 2023 jumping by 50000.0 shares to 12.74 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 12.69 million shares. A jump of 0.39% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.59.
Which companies own the most shares of Sonos Inc. (SONO)?
According to BlackRock Fund Advisors filings, the company currently owns 18,664,832 shares, which is about 14.55% of the total SONO shares outstanding. The investor’s shares have plunged by -66,054 from its previous 13-F filing of 18730886.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $236,882,016. Coliseum Capital Management LLC reduced a -9.79% interest valued at $112.02 million while Trigran Investments, Inc. purchased a 860,755 stake. A total of 107,297 shares of Sonos Inc. were bought by Thrivent Asset Management LLC during the quarter, and -27,179 were sold by SSgA Funds Management, Inc.. In its current portfolio, Franklin Advisers, Inc. holds 3,997,843 shares valued at $68.52 million.
In terms of Sonos Inc. share price expectations, FactSet research, analysts set an average price target of $20.80 in the next 12 months, up nearly 45.14% from the previous closing price of $13.78. Analysts anticipate Sonos Inc. stock to reach $24.00 by 2023, with the lowest price target being $19.00. In spite of this, 8 analysts ranked Sonos Inc. stock as an Overweight at the end of 2023.