41,979 Shares in Sonos, Inc. $SONO Purchased by Bayforest Capital Ltd

Bayforest Capital Ltd purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO) during the third quarter, HoldingsChannel.com reports. The firm purchased 41,979 shares of the company’s stock, valued at approximately $663,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Thrivent Financial for Lutherans increased its stake in shares of Sonos by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 88,302 shares of the company’s stock valued at $955,000 after buying an additional 833 shares during the period. Centaurus Financial Inc. boosted its holdings in Sonos by 9.0% in the second quarter. Centaurus Financial Inc. now owns 10,375 shares of the company’s stock valued at $112,000 after acquiring an additional 856 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Sonos by 31.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,195 shares of the company’s stock valued at $66,000 after purchasing an additional 992 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Sonos by 1.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 123,265 shares of the company’s stock worth $1,332,000 after purchasing an additional 1,352 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Sonos by 1.6% in the 2nd quarter. California State Teachers Retirement System now owns 111,685 shares of the company’s stock worth $1,207,000 after purchasing an additional 1,796 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 analysts recently issued reports on SONO shares. Wall Street Zen upgraded shares of Sonos from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Morgan Stanley set a $17.00 target price on Sonos and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Jefferies Financial Group raised their target price on Sonos from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Sonos in a research report on Wednesday, October 8th. Finally, Rosenblatt Securities upped their price target on Sonos from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.67.

Insider Activity

In related news, insider Edward P. Lazarus sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $19.00, for a total value of $228,000.00. Following the transaction, the insider owned 423,219 shares in the company, valued at $8,041,161. The trade was a 2.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Conrad acquired 62,325 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average cost of $16.17 per share, for a total transaction of $1,007,795.25. Following the completion of the transaction, the chief executive officer directly owned 305,103 shares in the company, valued at $4,933,515.51. The trade was a 25.67% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.80% of the stock is owned by insiders.

Sonos Stock Performance

SONO stock opened at $16.63 on Friday. The firm has a 50 day moving average price of $17.64 and a 200-day moving average price of $15.12. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $19.82. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -31.98 and a beta of 2.02.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). Sonos had a negative net margin of 4.24% and a negative return on equity of 11.66%. The company had revenue of $287.90 million for the quarter, compared to the consensus estimate of $535.43 million. During the same period last year, the business earned ($0.44) EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

About Sonos

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.