Vanguard Group Inc. Grows Stock Holdings in Sonos, Inc. $SONO

Vanguard Group Inc. grew its stake in Sonos, Inc. (NASDAQ:SONO) by 5.9% in the third quarter, Holdings Channel.com reports. The firm owned 13,730,353 shares of the company’s stock after acquiring an additional 768,776 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Sonos worth $216,940,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Sonos by 65.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock valued at $35,000 after buying an additional 1,269 shares in the last quarter. Centaurus Financial Inc. grew its holdings in shares of Sonos by 9.0% in the second quarter. Centaurus Financial Inc. now owns 10,375 shares of the company’s stock valued at $112,000 after purchasing an additional 856 shares during the period. Integrated Investment Consultants LLC acquired a new stake in Sonos during the second quarter worth about $139,000. Allworth Financial LP increased its position in Sonos by 1,917.0% during the second quarter. Allworth Financial LP now owns 12,929 shares of the company’s stock worth $140,000 after purchasing an additional 12,288 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Sonos by 359.2% during the second quarter. Tower Research Capital LLC TRC now owns 13,568 shares of the company’s stock worth $147,000 after purchasing an additional 10,613 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Stock Down 2.2%

NASDAQ:SONO opened at $15.40 on Monday. The company has a fifty day simple moving average of $16.21 and a two-hundred day simple moving average of $16.28. Sonos, Inc. has a 52 week low of $7.63 and a 52 week high of $19.82. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -90.59 and a beta of 1.96.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.08. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The business had revenue of $545.66 million during the quarter, compared to analysts’ expectations of $536.93 million. During the same quarter last year, the business posted $0.64 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts expect that Sonos, Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Morgan Stanley set a $18.00 target price on Sonos in a research note on Wednesday, February 4th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 target price on shares of Sonos in a research report on Monday, February 2nd. Jefferies Financial Group increased their price target on Sonos from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Wall Street Zen upgraded shares of Sonos from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.00.

Insider Transactions at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L bought 494,719 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average price of $15.50 per share, with a total value of $7,668,144.50. Following the transaction, the insider owned 15,424,999 shares of the company’s stock, valued at approximately $239,087,484.50. The trade was a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edward P. Lazarus sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $19.00, for a total value of $228,000.00. Following the sale, the insider owned 423,219 shares of the company’s stock, valued at approximately $8,041,161. The trade was a 2.76% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 1,991,562 shares of company stock worth $30,876,917. Company insiders own 1.25% of the company’s stock.

Sonos Company Profile

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.