281,400 Shares in Sonos, Inc. $SONO Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. purchased a new stake in Sonos, Inc. (NASDAQ:SONO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 281,400 shares of the company’s stock, valued at approximately $4,446,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its position in shares of Sonos by 65.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock worth $35,000 after purchasing an additional 1,269 shares during the last quarter. Centaurus Financial Inc. grew its stake in Sonos by 9.0% in the second quarter. Centaurus Financial Inc. now owns 10,375 shares of the company’s stock worth $112,000 after purchasing an additional 856 shares in the last quarter. Transcend Capital Advisors LLC bought a new stake in Sonos in the second quarter valued at about $119,000. Integrated Investment Consultants LLC bought a new stake in Sonos in the second quarter valued at about $139,000. Finally, Allworth Financial LP raised its stake in Sonos by 1,917.0% during the second quarter. Allworth Financial LP now owns 12,929 shares of the company’s stock valued at $140,000 after buying an additional 12,288 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Sonos Price Performance

Shares of SONO opened at $15.41 on Monday. Sonos, Inc. has a 12 month low of $7.63 and a 12 month high of $19.82. The stock has a fifty day moving average price of $16.52 and a 200 day moving average price of $16.17. The company has a market cap of $1.86 billion, a P/E ratio of -90.65 and a beta of 2.05.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.08. The company had revenue of $545.66 million during the quarter, compared to the consensus estimate of $536.93 million. Sonos had a negative net margin of 1.22% and a positive return on equity of 0.82%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, research analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen raised Sonos from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Zacks Research upgraded Sonos from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Morgan Stanley set a $18.00 target price on shares of Sonos in a research note on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sonos in a report on Thursday, January 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of Sonos in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Insider Activity

In other Sonos news, insider Edward P. Lazarus sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $19.00, for a total value of $228,000.00. Following the sale, the insider owned 423,219 shares in the company, valued at approximately $8,041,161. This trade represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Coliseum Capital Management, L purchased 290,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $15.59 per share, for a total transaction of $4,521,100.00. Following the acquisition, the insider owned 16,310,563 shares of the company’s stock, valued at approximately $254,281,677.17. The trade was a 1.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 1,380,283 shares of company stock worth $21,736,881. 1.25% of the stock is currently owned by insiders.

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.