Sonos Inc (NASDAQ: SONO) stock jumped 4.45% on Monday to $14.32 against a previous-day closing price of $13.71. With 3.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.1 million shares. During the session, the Consumer Electronics company that operates in wider Technology sector, reached to the highest price of $14.40 whereas the lowest price it dropped to was $13.66. The 52-week range on SONO shows that it touched its highest point at $21.98 and its lowest point at $9.78 during that stretch. It currently has a 1-year price target of $17.90. Beta for the stock currently stands at 1.91.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SONO was up-trending over the past week, with a rise of 34.97%, but this was up by 27.97% over a month. Three-month performance surged to 3.10% while six-month performance fell -4.34%. The stock lost -17.46% in the past year, while it has lost -15.27% so far this year. A look at the trailing 12-month EPS for SONO yields -0.10 with Next year EPS estimates of 0.38. For the next quarter, that number is 0.40. This implies an EPS growth rate of 340.28% for this year and 98.34% for next year. EPS is expected to grow by 3.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 19.48%.
Float and Shares Shorts:
At present, 126.67 million SONO shares are outstanding with a float of 119.40 million shares on hand for trading. On Oct 30, 2023, short shares totaled 11.98 million, which was 9.34% higher than short shares on Sep 28, 2023. In addition to Mr. Patrick Spence as the firm’s CEO, President & Director, Mr. Edward P. Lazarus serves as its CFO, Chief Legal Officer & Corporate Secretary.
Institutional Ownership:
Through their ownership of 89.07% of SONO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.72% of SONO, in contrast to 35.09% held by mutual funds. Shares owned by individuals account for 15.76%. As the largest shareholder in SONO with 14.30% of the stake, BlackRock Fund Advisors holds 18,338,043 shares worth 18,338,043. A second-largest stockholder of SONO, The Vanguard Group, Inc., holds 13,777,347 shares, controlling over 10.74% of the firm’s shares. Trigran Investments, Inc. is the third largest shareholder in SONO, holding 6,698,433 shares or 5.22% stake. With a 6.73% stake in SONO, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 8,628,734 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.12% of SONO stock, is the second-largest Mutual Fund holder. It holds 3,995,612 shares valued at 43.07 million. Vanguard Small Cap Index Fund holds 2.58% of the stake in SONO, owning 3,307,895 shares worth 35.66 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SONO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SONO analysts setting a high price target of $22.80 and a low target of $12.50, the average target price over the next 12 months is $17.90. Based on these targets, SONO could surge 59.22% to reach the target high and fall by -12.71% to reach the target low. Reaching the average price target will result in a growth of 25.0% from current levels.
Summary of Insider Activity:
Insiders traded SONO stock several times over the past three months with 2 Buys and 3 Sells. In these transactions, 192,323 shares were bought while 131,922 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 33 over the past year. The total number of shares bought during that period was 636,731 while 367,500 shares were sold.
