Intech Investment Management LLC Purchases 38,740 Shares of Sonos, Inc. (NASDAQ:SONO)

Intech Investment Management LLC boosted its position in Sonos, Inc. (NASDAQ:SONO) by 157.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,375 shares of the company’s stock after purchasing an additional 38,740 shares during the quarter. Intech Investment Management LLC’s holdings in Sonos were worth $779,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Sonos by 24.8% during the second quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company’s stock worth $51,946,000 after buying an additional 699,975 shares in the last quarter. American Century Companies Inc. increased its position in Sonos by 8.6% during the second quarter. American Century Companies Inc. now owns 2,689,118 shares of the company’s stock worth $39,691,000 after acquiring an additional 212,610 shares during the period. Dimensional Fund Advisors LP raised its stake in Sonos by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,659,127 shares of the company’s stock worth $39,248,000 after purchasing an additional 241,700 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Sonos by 21.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,842,770 shares of the company’s stock valued at $27,199,000 after purchasing an additional 331,293 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in Sonos by 67.9% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,655,942 shares of the company’s stock valued at $20,352,000 after purchasing an additional 669,658 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Morgan Stanley cut shares of Sonos from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum downgraded Sonos from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $10.00 in a research report on Thursday, August 8th.

Sonos Stock Down 0.2 %

SONO stock opened at $13.61 on Friday. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76. The business has a 50-day simple moving average of $12.86 and a 200 day simple moving average of $13.49. The company has a market cap of $1.66 billion, a PE ratio of -41.24 and a beta of 2.04.

Sonos (NASDAQ:SONO) last issued its earnings results on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The firm had revenue of $255.38 million during the quarter, compared to analyst estimates of $247.92 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. Sonos’s quarterly revenue was down 16.3% compared to the same quarter last year. On average, analysts anticipate that Sonos, Inc. will post -0.3 EPS for the current fiscal 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.