Laurion Capital Management LP bought a new stake in shares of Sonos Inc (NASDAQ:SONO) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 151,376 shares of the company’s stock, valued at approximately $2,428,000. Laurion Capital Management LP owned approximately 0.15% of Sonos at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in Sonos during the 3rd quarter valued at about $6,373,000. Hsbc Holdings PLC purchased a new position in Sonos during the 3rd quarter valued at about $966,000. Dean Capital Investments Management LLC purchased a new position in Sonos during the 3rd quarter valued at about $483,000. DekaBank Deutsche Girozentrale purchased a new position in Sonos during the 3rd quarter valued at about $3,025,000. Finally, FMR LLC purchased a new position in Sonos during the 3rd quarter valued at about $6,434,000. 34.17% of the stock is currently owned by institutional investors.
Several research firms have weighed in on SONO. Zacks Investment Research cut Sonos from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Raymond James began coverage on Sonos in a research note on Monday, August 27th. They set an “outperform” rating and a $24.00 target price on the stock. Stifel Nicolaus began coverage on Sonos in a research note on Monday, August 27th. They set a “hold” rating and a $20.00 target price on the stock. Royal Bank of Canada began coverage on Sonos in a research note on Monday, August 27th. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Goldman Sachs Group began coverage on Sonos in a research note on Monday, August 27th. They set a “buy” rating and a $25.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.71.
Shares of Sonos stock opened at $12.51 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Sonos Inc has a 52-week low of $11.09 and a 52-week high of $23.60.
Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Thursday, November 15th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $272.94 million for the quarter, compared to analyst estimates of $248.87 million. As a group, sell-side analysts forecast that Sonos Inc will post 0.01 EPS for the current year.
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Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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