Tudor Investment Corp ET AL Buys 473,769 Shares of Sonos, Inc. $SONO

Tudor Investment Corp ET AL increased its stake in shares of Sonos, Inc. (NASDAQ:SONOFree Report) by 190.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 722,740 shares of the company’s stock after purchasing an additional 473,769 shares during the quarter. Tudor Investment Corp ET AL owned about 0.60% of Sonos worth $11,419,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in Sonos by 22.4% in the 1st quarter. AQR Capital Management LLC now owns 51,169 shares of the company’s stock valued at $546,000 after buying an additional 9,355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sonos by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company’s stock valued at $768,000 after acquiring an additional 3,483 shares during the last quarter. Intech Investment Management LLC increased its position in Sonos by 38.5% in the first quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock worth $1,613,000 after purchasing an additional 42,006 shares during the period. Strs Ohio acquired a new stake in Sonos in the first quarter worth about $147,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Sonos by 8.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,831 shares of the company’s stock worth $333,000 after purchasing an additional 2,334 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Trading Down 2.3%

SONO stock opened at $13.12 on Friday. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $19.82. The firm has a market cap of $1.59 billion, a PE ratio of -77.18 and a beta of 1.97. The business’s 50-day moving average price is $15.16 and its two-hundred day moving average price is $16.32.

Sonos (NASDAQ:SONOGet Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $545.66 million for the quarter, compared to analyst estimates of $536.93 million. During the same quarter last year, the firm posted $0.64 earnings per share. Sonos’s revenue was down .9% compared to the same quarter last year. On average, analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on SONO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sonos in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Sonos from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Jefferies Financial Group lifted their target price on shares of Sonos from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Morgan Stanley set a $18.00 price target on Sonos in a research note on Wednesday, February 4th. Finally, Zacks Research raised Sonos from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sonos currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

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Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 494,719 shares of Sonos stock in a transaction dated Wednesday, February 4th. The stock was bought at an average price of $15.50 per share, for a total transaction of $7,668,144.50. Following the completion of the acquisition, the insider directly owned 15,424,999 shares of the company’s stock, valued at $239,087,484.50. This represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 3,140,482 shares of company stock valued at $46,905,007 over the last 90 days. Insiders own 1.25% of the company’s stock.

Sonos Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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