Sonos, Inc. (NASDAQ:SONO – Get Free Report) was the target of unusually large options trading activity on Thursday. Stock investors purchased 5,758 put options on the company. This represents an increase of approximately 441% compared to the typical volume of 1,064 put options.
Sonos Stock Down 1.0 %
NASDAQ SONO traded down $0.14 on Thursday, reaching $13.94. 2,513,542 shares of the stock traded hands, compared to its average volume of 1,910,072. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -100.56 and a beta of 2.04. The firm’s fifty day simple moving average is $12.50 and its 200 day simple moving average is $13.78. Sonos has a 12 month low of $10.23 and a 12 month high of $19.76.
Insider Buying and Selling
In other news, insider Shamayne Braman sold 6,438 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $11.56, for a total transaction of $74,423.28. Following the transaction, the insider now owns 26,588 shares of the company’s stock, valued at approximately $307,357.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.30% of the company’s stock.
Institutional Investors Weigh In On Sonos
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Morgan Stanley downgraded shares of Sonos from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum lowered shares of Sonos from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $10.00 in a research note on Thursday, August 8th.
Check Out Our Latest Report on Sonos
About Sonos
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.
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