Louisiana State Employees Retirement System Purchases New Position in Sonos, Inc. (NASDAQ:SONO)

Louisiana State Employees Retirement System acquired a new stake in Sonos, Inc. (NASDAQ:SONO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 64,200 shares of the company’s stock, valued at approximately $1,100,000. Louisiana State Employees Retirement System owned approximately 0.05% of Sonos at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SONO. SG Americas Securities LLC purchased a new stake in shares of Sonos in the third quarter valued at approximately $826,000. Exchange Traded Concepts LLC purchased a new stake in shares of Sonos in the third quarter valued at approximately $173,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sonos by 7.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,297 shares of the company’s stock valued at $1,037,000 after buying an additional 5,892 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in shares of Sonos by 9.5% in the third quarter. Meitav Investment House Ltd. now owns 230,689 shares of the company’s stock worth $2,945,000 after acquiring an additional 20,100 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Sonos by 0.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,013,939 shares of the company’s stock worth $13,090,000 after acquiring an additional 8,802 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Sonos Stock Performance

NASDAQ SONO opened at $17.71 on Wednesday. The stock’s fifty day moving average is $18.48 and its two-hundred day moving average is $16.01. The firm has a market capitalization of $2.19 billion, a P/E ratio of -590.33 and a beta of 1.99. Sonos, Inc. has a fifty-two week low of $9.78 and a fifty-two week high of $21.98.

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

Wall Street Analyst Weigh In

SONO has been the topic of a number of research analyst reports. TheStreet raised Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $24.00 price target on shares of Sonos in a research note on Monday, March 25th. Finally, Morgan Stanley lifted their price target on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Insiders Place Their Bets

In other news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. Following the transaction, the insider now owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Thomas Conrad sold 5,337 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total value of $97,720.47. Following the transaction, the director now owns 37,334 shares of the company’s stock, valued at approximately $683,585.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 119,179 shares in the company, valued at approximately $2,099,933.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,147 shares of company stock valued at $484,972. Insiders own 3.30% of the company’s stock.

About Sonos

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.