Sonos Inc (NASDAQ:SONO) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 1,626 put options on the company. This is an increase of approximately 1,170% compared to the typical daily volume of 128 put options.
In related news, major shareholder Ventures Growth I. (Jerse Index sold 6,871 shares of Sonos stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $11.00, for a total transaction of $75,581.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelangelo Volpi sold 466,799 shares of Sonos stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $11.38, for a total value of $5,312,172.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,102,247 shares of company stock worth $23,243,065. Insiders own 15.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Sonos in the 3rd quarter worth about $646,000. BlackRock Inc. purchased a new position in Sonos in the 3rd quarter worth about $15,623,000. FMR LLC purchased a new position in Sonos in the 3rd quarter worth about $6,434,000. JPMorgan Chase & Co. purchased a new position in Sonos in the 3rd quarter worth about $6,373,000. Finally, LPL Financial LLC purchased a new position in Sonos in the 3rd quarter worth about $269,000. 50.42% of the stock is currently owned by institutional investors.
SONO stock traded down $0.21 during midday trading on Friday, reaching $10.52. 842,738 shares of the stock were exchanged, compared to its average volume of 1,382,368. The firm has a market capitalization of $1.10 billion and a P/E ratio of -43.83. Sonos has a 52 week low of $9.23 and a 52 week high of $23.60. The company has a quick ratio of 1.63, a current ratio of 2.58 and a debt-to-equity ratio of 0.10.
Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.13. The company had revenue of $210.20 million for the quarter, compared to the consensus estimate of $213.42 million. Sonos had a return on equity of 6.88% and a net margin of 0.85%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year.
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Sonos Company Profile
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.
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