Sonos, Inc. (NASDAQ:SONO) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in shares of Sonos, Inc. (NASDAQ:SONO) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,614 shares of the company’s stock after selling 627 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sonos were worth $799,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in Sonos in the 4th quarter worth about $35,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Sonos in the fourth quarter worth approximately $175,000. Ieq Capital LLC purchased a new stake in Sonos in the third quarter valued at approximately $132,000. Orion Portfolio Solutions LLC increased its position in Sonos by 16.5% during the third quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company’s stock worth $160,000 after purchasing an additional 1,755 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Sonos during the third quarter worth approximately $176,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SONO has been the subject of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $24.00 price objective on shares of Sonos in a report on Monday, March 25th. TheStreet upgraded Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley lifted their price objective on Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Buying and Selling at Sonos

In other news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the completion of the transaction, the insider now directly owns 119,179 shares in the company, valued at $2,099,933.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 22,715 shares of company stock valued at $402,845 over the last 90 days. 3.30% of the stock is owned by corporate insiders.

Sonos Price Performance

NASDAQ:SONO opened at $17.25 on Friday. The business’s 50-day moving average is $18.11 and its two-hundred day moving average is $16.41. The firm has a market capitalization of $2.14 billion, a PE ratio of -575.00 and a beta of 2.00. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $21.98.

Sonos (NASDAQ:SONO) last announced its earnings results on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to the consensus estimate of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. Equities analysts anticipate that Sonos, Inc. will post 0.31 EPS for the current year.

Sonos Profile

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.