Sonos, Inc. $SONO Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its stake in Sonos, Inc. (NASDAQ:SONO) by 60.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 450,170 shares of the company’s stock after purchasing an additional 168,770 shares during the period. Hillsdale Investment Management Inc.’s holdings in Sonos were worth $7,905,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SONO. AQR Capital Management LLC boosted its holdings in shares of 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sonos by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company’s stock valued at $768,000 after buying an additional 3,483 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Sonos by 38.5% in the 1st quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock valued at $1,613,000 after buying an additional 42,006 shares in the last quarter. Strs Ohio acquired a new position in shares of Sonos in the 1st quarter valued at $147,000. Finally, Norges Bank acquired a new position in shares of Sonos in the 2nd quarter valued at $289,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SONO shares. Zacks Research cut shares of Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings upgraded shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of Sonos in a research note on Tuesday, May 5th. Wall Street Zen cut shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Morgan Stanley set a $18.00 price target on shares of Sonos in a research note on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Sonos Price Performance

Shares of NASDAQ:SONO opened at $15.78 on Friday. The stock has a market cap of $1.88 billion, a P/E ratio of 92.83 and a beta of 1.94. The firm has a fifty day moving average price of $14.28 and a 200 day moving average price of $15.70. Sonos, Inc. has a 1-year low of $9.65 and a 1-year high of $19.82.

Insiders Place Their Bets

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average price of $13.57 per share, for a total transaction of $1,696,250.00. Following the purchase, the insider directly owned 18,070,762 shares in the company, valued at approximately $245,220,240.34. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have acquired 1,148,970 shares of company stock worth $16,028,815. 1.25% of the stock is owned by corporate insiders.

Sonos Company 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.