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 $429,375 were sold by Bouvat-Merlin Maxime on Aug 19 ’24. At $11.53 per share, Bouvat-Merlin Maxime sold 37,256 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Braman Shamayne sold 6,438 shares, netting a total of over 74,423 in proceeds. Following the sale of shares at $11.56 each, the insider now holds 26,588 shares.
Before that, Bouvat-Merlin Maxime had added 37,256 shares to its account. In a trade valued at $435,895, the Officer bought Sonos Inc shares for $11.70 each.
As published in a research note from Morgan Stanley on September 26, 2024, Sonos Inc [SONO] has been rated down from an Overweight to an Underweight and the price target has been revised to $11 from $25. Analysts at Craig Hallum downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early August. As of December 12, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for SONO. Earlier on November 07, 2023, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for SONO stock which previously was a “a Buy”.
Analyzing SONO Stock Performance
During the last five days, there has been a drop of approximately -3.41%. Over the course of the year, Sonos Inc shares have dropped approximately -32.21%. Shares of the company reached a 52-week high of $19.76 on 03/22/24 and a 52-week low of $10.23 on 08/08/24. A 50-day SMA is recorded $12.09, while a 200-day SMA reached $15.65. Nevertheless, trading volume fell to 1.2 million shares from 1.98 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 11.49, which, if violated, would cause prices to drop to 11.35. In the upper region, resistance lies at 11.79. The next price resistance is at 11.96. RSI (Relative Strength Index) is 42.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.50, which suggests the price will decrease in the coming days. Percent R is at 93.52%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
