Sonos, Inc. $SONO Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 408,029 shares of the company’s stock after selling 42,026 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.34% of Sonos worth $7,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SONO. Fortitude Family Office LLC increased its stake in shares of Sonos by 325.3% in the third quarter. Fortitude Family Office LLC now owns 1,544 shares of the company’s stock worth $28,000 after buying an additional 1,181 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Sonos during the 2nd quarter valued at $59,000. Integrated Wealth Concepts LLC bought a new position in Sonos during the 2nd quarter valued at $75,000. Leonteq Securities AG boosted its stake in Sonos by 45.2% during the 1st quarter. Leonteq Securities AG now owns 7,690 shares of the company’s stock valued at $103,000 after acquiring an additional 2,395 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Sonos during the 2nd quarter worth $128,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Sonos news, Director Karen Boone sold 46,766 shares of the firm’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $18.13, for a total value of $847,867.58. Following the transaction, the director owned 69,271 shares of the company’s stock, valued at $1,255,883.23. This trade represents a 40.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 19,855 shares of Sonos stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the completion of the transaction, the director owned 53,775 shares of the company’s stock, valued at approximately $914,175. The trade was a 26.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 76,621 shares of company stock worth $1,339,303. 1.25% of the stock is owned by company insiders.

Sonos Price Performance

Sonos stock opened at $17.54 on Friday. The company has a market cap of $2.07 billion, a PE ratio of 38.98 and a beta of 1.88. The company has a fifty day moving average price of $16.47 and a two-hundred day moving average price of $15.38. Sonos, Inc. has a 12 month low of $12.44 and a 12 month high of $19.82.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.23. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The company had revenue of $375.26 million for the quarter, compared to the consensus estimate of $365.65 million. During the same period last year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Sonos, Inc. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

SONO has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Sonos from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price target on shares of Sonos in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

About Sonos

Sonos, Inc develops and sells connected audio products and software for the home. Its offerings are designed to work together over wireless networks, allowing users to play music and other audio in individual rooms or across multiple rooms through the Sonos app and compatible streaming services.

The company’s product portfolio includes wireless home speakers, portable speakers, soundbars, subwoofers and other home-theater components. Sonos also offers headphones, including the Sonos Ace, as well as software features such as voice control, multiroom audio management and integration with third-party music and media platforms.

Founded in 2002 and headquartered in Santa Barbara, California, Sonos sells its products through its website, company-operated stores and third-party retailers.