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Sonos (NASDAQ:SONO - Get Rating) had its price target lowered by research analysts at Morgan Stanley from $28.00 to $20.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential downside of 12.17% from the company's previous close.

Other analysts also recently issued reports about the stock. DA Davidson reduced their price target on shares of Sonos from $49.00 to $40.00 in a report on Thursday, May 12th. Jefferies Financial Group dropped their price objective on shares of Sonos from $45.00 to $35.00 in a research note on Tuesday, May 31st. TheStreet cut shares of Sonos from a "b-" rating to a "c" rating in a research note on Wednesday, May 11th. Finally, Stifel Nicolaus dropped their price objective on shares of Sonos from $24.00 to $20.00 and set a "hold" rating for the company in a research note on Thursday.Sonos Stock Performance

Shares of NASDAQ SONO opened at $22.77 on Thursday. The company has a market cap of $2.91 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.20 and a beta of 1.91. The firm's fifty day moving average is $20.48 and its two-hundred day moving average is $23.35. Sonos has a 52-week low of $17.43 and a 52-week high of $42.57.

Sonos (NASDAQ:SONO - Get Rating) last announced its quarterly earnings results on Wednesday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. The company had revenue of $399.78 million for the quarter, compared to the consensus estimate of $361.40 million. Sonos had a net margin of 7.83% and a return on equity of 32.39%. During the same period in the previous year, the firm posted $0.31 EPS. As a group, analysts forecast that Sonos will post 1.09 EPS for the current fiscal year. Insider Buying and Selling

In related news, CEO Patrick Spence sold 65,237 shares of Sonos stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $18.96, for a total transaction of $1,236,893.52. Following the completion of the transaction, the chief executive officer now directly owns 727,690 shares of the company's stock, valued at approximately $13,797,002.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Matthew O. Siegel sold 202,945 shares of Sonos stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the completion of the sale, the insider now owns 68,339 shares in the company, valued at approximately $1,315,525.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Spence sold 65,237 shares of Sonos stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $18.96, for a total transaction of $1,236,893.52. Following the sale, the chief executive officer now owns 727,690 shares of the company's stock, valued at approximately $13,797,002.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,897 shares of company stock valued at $5,201,921. Company insiders own 3.60% of the company's stock. Institutional Investors Weigh In On Sonos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SONO. BlackRock Inc. lifted its holdings in Sonos by 77.4% during the 1st quarter. BlackRock Inc. now owns 22,364,298 shares of the company's stock valued at $631,123,000 after buying an additional 9,759,359 shares in the last quarter. HS Management Partners LLC bought a new stake in Sonos during the 4th quarter valued at about $69,126,000. American Century Companies Inc. lifted its holdings in Sonos by 236.2% during the 4th quarter. American Century Companies Inc. now owns 3,263,282 shares of the company's stock valued at $97,246,000 after buying an additional 2,292,576 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Sonos by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 13,604,113 shares of the company's stock valued at $383,908,000 after buying an additional 1,933,485 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Sonos by 76.7% in the 1st quarter. State Street Corp now owns 4,176,588 shares of the company's stock valued at $117,863,000 after purchasing an additional 1,812,340 shares in the last quarter. Institutional investors own 91.37% of the company's stock. About Sonos (Get Rating)

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.See AlsoGet a free copy of the StockNews.com research report on Sonos (SONO)Solar Stocks Shine Brightly After Passage Of Clean Energy Bill3 Stable Growth Stocks for Bumpy TimesLarge And Small Oil-And-Gas Stocks See Post-Earnings BounceThe 2 Dow Stocks with Decade-Long Win Streaks on the LineCould Rite Aid Be an Acquisition Target, Again?

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