Zurcher Kantonalbank Zurich Cantonalbank Sells 55,868 Shares of Sonos, Inc. (NASDAQ:SONO)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 69.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,429 shares of the company’s stock after selling 55,868 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sonos were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Trigran Investments Inc. raised its holdings in Sonos by 7.0% in the 3rd quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock worth $86,477,000 after purchasing an additional 436,696 shares in the last quarter. Hawk Ridge Capital Management LP raised its stake in Sonos by 382.6% in the third quarter. Hawk Ridge Capital Management LP now owns 4,097,212 shares of the company’s stock worth $52,895,000 after buying an additional 3,248,148 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Sonos by 26.7% in the third quarter. Wellington Management Group LLP now owns 2,741,356 shares of the company’s stock worth $35,391,000 after buying an additional 576,939 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Sonos by 11.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,680,619 shares of the company’s stock valued at $34,607,000 after acquiring an additional 278,129 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Sonos by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,312,778 shares of the company’s stock worth $16,948,000 after acquiring an additional 87,341 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $24.00 price target on shares of Sonos in a research report on Monday, March 25th. TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley increased their price target on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Sonos has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Insider Activity at Sonos

In related news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction that occurred 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 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 is accessible through this hyperlink. In other Sonos news, Director Thomas Conrad sold 5,337 shares of the company’s 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 transaction, the director now owns 37,334 shares in the company, valued at approximately $683,585.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Scott Mason sold 20,000 shares of Sonos stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the sale, 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 sold 27,147 shares of company stock valued at $484,972 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Sonos Price Performance

Shares of NASDAQ:SONO opened at $17.05 on Friday. The business has a fifty day moving average price of $18.26 and a 200-day moving average price of $16.21. The company has a market capitalization of $2.11 billion, a PE ratio of -568.14 and a beta of 2.00. Sonos, Inc. has a 1-year low of $9.78 and a 1-year high of $21.98.

Sonos (NASDAQ:SONO) last announced 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 company 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%. On average, sell-side analysts anticipate that Sonos, Inc. will post 0.31 earnings per share for the current fiscal year.

Sonos 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.