Sonos, Inc. $SONO Stake Increased by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in Sonos, Inc. (NASDAQ:SONO) by 68.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 389,372 shares of the company’s stock after buying an additional 157,851 shares during the period. SG Americas Securities LLC owned about 0.32% of Sonos worth $6,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP raised its position in Sonos by 485.8% during the third quarter. Quarry LP now owns 3,251 shares of the company’s stock valued at $51,000 after buying an additional 2,696 shares during the period. Nisa Investment Advisors LLC boosted its position in Sonos by 31.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,195 shares of the company’s stock worth $66,000 after acquiring an additional 992 shares during the period. GAMMA Investing LLC grew its stake in Sonos by 10.2% during the 4th quarter. GAMMA Investing LLC now owns 6,832 shares of the company’s stock valued at $120,000 after acquiring an additional 631 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of Sonos by 9.0% in the 2nd 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. Finally, Focus Partners Wealth acquired a new position in shares of Sonos in the 3rd quarter valued at about $170,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Sonos news, major shareholder Coliseum Capital Management, L acquired 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average cost of $13.57 per share, for a total transaction of $1,696,250.00. Following the completion of the acquisition, the insider owned 18,070,762 shares of the company’s stock, valued at approximately $245,220,240.34. This trade represents a 0.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have acquired 3,140,482 shares of company stock valued at $46,905,007. 1.25% of the stock is currently owned by insiders.

Sonos Stock Performance

Shares of NASDAQ SONO opened at $13.40 on Wednesday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -78.82 and a beta of 1.97. The business has a 50 day simple moving average of $14.75 and a 200 day simple moving average of $16.26. Sonos, Inc. has a 52 week low of $7.63 and a 52 week high of $19.82.

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

Sonos 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.