Marquette Asset Management LLC Makes New Investment in Sonos, Inc. $SONO

Marquette Asset Management LLC acquired a new stake in Sonos, Inc. (NASDAQ:SONO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 44,694 shares of the company’s stock, valued at approximately $785,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SONO. Exchange Traded Concepts LLC increased its holdings in Sonos by 14.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 72,927 shares of the company’s stock valued at $1,281,000 after purchasing an additional 9,184 shares during the period. SG Americas Securities LLC lifted its holdings in Sonos by 68.2% in the 4th quarter. SG Americas Securities LLC now owns 389,372 shares of the company’s stock worth $6,837,000 after buying an additional 157,851 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Sonos by 5.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,850 shares of the company’s stock worth $798,000 after buying an additional 2,361 shares during the period. GAMMA Investing LLC grew its position in shares of Sonos by 10.2% in the 4th quarter. GAMMA Investing LLC now owns 6,832 shares of the company’s stock worth $120,000 after buying an additional 631 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Sonos by 231.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 427,846 shares of the company’s stock worth $6,760,000 after buying an additional 298,838 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SONO. Weiss Ratings restated a “sell (d-)” rating on shares of Sonos in a report on Thursday, January 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price target on shares of Sonos in a report on Monday, February 2nd. Jefferies Financial Group boosted their price objective on shares of Sonos from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Zacks Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Finally, Wall Street Zen raised shares of Sonos from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Sonos Stock Performance

Shares of NASDAQ:SONO opened at $13.58 on Friday. The firm has a market capitalization of $1.64 billion, a P/E ratio of -79.88 and a beta of 1.99. The stock has a 50 day moving average price of $14.67 and a 200-day moving average price of $16.22. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $19.82.

Sonos (NASDAQ:SONO) last released its quarterly earnings results 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 company had revenue of $545.66 million for the quarter, compared to analyst estimates of $536.93 million. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The firm’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities analysts forecast that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L bought 125,000 shares of Sonos stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average cost of $13.57 per share, with a total value of $1,696,250.00. Following the transaction, the insider directly owned 18,070,762 shares of the company’s stock, valued at $245,220,240.34. This represents a 0.70% 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 this link. In the last quarter, insiders have acquired 3,140,482 shares of company stock worth $46,905,007. Insiders own 1.25% of the company’s stock.

About Sonos

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.