SG Americas Securities LLC Sells 56,356 Shares of Sonos, Inc. (NASDAQ:SONO)

SG Americas Securities LLC decreased its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 88.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,609 shares of the company’s stock after selling 56,356 shares during the quarter. SG Americas Securities LLC’s holdings in Sonos were worth $130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SONO. Public Employees Retirement System of Ohio lifted its holdings in Sonos by 74.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock valued at $25,000 after buying an additional 777 shares in the last quarter. State of Wyoming bought a new stake in shares of Sonos in the 2nd quarter valued at about $31,000. First Manhattan Co. bought a new stake in shares of Sonos in the 1st quarter valued at about $36,000. Pacific Center for Financial Services purchased a new position in shares of Sonos in the 1st quarter worth approximately $39,000. Finally, Money Concepts Capital Corp grew its position in shares of Sonos by 3,649.3% in the 4th quarter. Money Concepts Capital Corp now owns 2,812 shares of the company’s stock worth $48,000 after buying an additional 2,737 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Trading Up 0.3 %

NASDAQ:SONO opened at $16.98 on Thursday. The company has a market cap of $2.10 billion, a PE ratio of -565.81 and a beta of 1.99. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $21.98. The company’s 50 day moving average is $18.57 and its two-hundred day moving average is $15.86.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to the consensus estimate of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. As a group, analysts expect that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the sale, the insider now directly owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total value of $97,720.47. Following the completion of the transaction, the director now directly owns 37,334 shares in the company, valued at approximately $683,585.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Mason sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the transaction, the insider now owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The disclosure for this sale can be found here. Insiders have sold 27,147 shares of company stock valued at $484,972 in the last ninety days. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SONO. Rosenblatt Securities reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Sonos in a research report on Monday, March 25th. TheStreet raised shares of Sonos from a “d+” rating to a “c-” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley boosted their target price on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sonos has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company 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.