Cerity Partners LLC Invests $239,000 in Sonos, Inc. (NASDAQ:SONO)

Cerity Partners LLC acquired a new position in shares of Sonos, Inc. (NASDAQ:SONO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 13,928 shares of the company’s stock, valued at approximately $239,000.

Other institutional investors have also modified their holdings of the company. WNY Asset Management LLC raised its position in Sonos by 6.3% in the 3rd quarter. WNY Asset Management LLC now owns 19,265 shares of the company’s stock valued at $249,000 after purchasing an additional 1,150 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Sonos by 16.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company’s stock valued at $160,000 after purchasing an additional 1,755 shares during the last quarter. HighTower Advisors LLC raised its position in Sonos by 4.4% in the 3rd quarter. HighTower Advisors LLC now owns 44,149 shares of the company’s stock valued at $573,000 after purchasing an additional 1,857 shares during the last quarter. Swiss National Bank raised its position in Sonos by 1.7% in the 3rd quarter. Swiss National Bank now owns 268,000 shares of the company’s stock valued at $3,460,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sonos by 7.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,297 shares of the company’s stock valued at $1,037,000 after purchasing an additional 5,892 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Rosenblatt Securities restated a “buy” rating and set a $24.00 price objective on shares of Sonos in a research report on Monday, March 25th. Finally, TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a research report on Wednesday, February 14th. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Transactions at Sonos

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 transaction of $352,400.00. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. In related news, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas Conrad sold 5,337 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the completion of the sale, the director now directly owns 37,334 shares in the company, valued at $683,585.54. The disclosure for this sale can be found here. Insiders have sold a total of 27,147 shares of company stock valued at $484,972 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

Sonos Stock Down 0.9 %

NASDAQ:SONO opened at $16.97 on Monday. Sonos, Inc. has a fifty-two week low of $9.78 and a fifty-two week high of $21.98. The stock has a market cap of $2.10 billion, a PE ratio of -565.67 and a beta of 1.99. The firm’s fifty day simple moving average is $18.38 and its 200-day simple moving average is $16.11.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results 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. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. The business had revenue of $612.87 million for the quarter, compared to analysts’ expectations of $588.96 million. Equities analysts anticipate that Sonos, Inc. will post 0.31 earnings per share for the current year.

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.