JPMorgan Chase & Co. trimmed its stake in Sonos, Inc. (NASDAQ:SONO) by 80.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,165 shares of the company’s stock after selling 747,279 shares during the period. JPMorgan Chase & Co. owned approximately 0.16% of Sonos worth $4,354,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. AdvisorNet Financial Inc bought a new position in Sonos during the fourth quarter valued at approximately $27,000. Captrust Financial Advisors grew its position in Sonos by 366.7% during the fourth quarter. Captrust Financial Advisors now owns 1,400 shares of the company’s stock valued at $33,000 after acquiring an additional 1,100 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Sonos during the fourth quarter valued at approximately $61,000. Advisory Services Network LLC grew its position in Sonos by 76.2% during the fourth quarter. Advisory Services Network LLC now owns 3,583 shares of the company’s stock valued at $84,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Sonos during the fourth quarter valued at approximately $124,000. Institutional investors own 64.27% of the company’s stock.
A number of brokerages have commented on SONO. Stifel Nicolaus increased their price target on shares of Sonos from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, March 10th. Morgan Stanley increased their price objective on Sonos from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, February 11th. The Goldman Sachs Group raised Sonos from a “sell” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $37.00 in a research note on Thursday, February 11th. Finally, Zacks Investment Research raised Sonos from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Wednesday, April 14th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $31.25.
Shares of Sonos stock opened at $40.83 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.89 billion, a P/E ratio of -163.32, a P/E/G ratio of 1.36 and a beta of 1.93. The business has a fifty day simple moving average of $40.24 and a two-hundred day simple moving average of $27.80. Sonos, Inc. has a 12 month low of $8.56 and a 12 month high of $44.72.
Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Wednesday, February 10th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.17. Sonos had a positive return on equity of 3.32% and a negative net margin of 1.52%. The firm had revenue of $645.60 million during the quarter, compared to the consensus estimate of $589.86 million. During the same period last year, the company earned $0.60 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. Analysts predict that Sonos, Inc. will post 0.68 earnings per share for the current year.
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.
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