40,205 Shares in Sonos, Inc. $SONO Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new stake in Sonos, Inc. (NASDAQ:SONO) during the third quarter, Holdings Channel.com reports. The firm bought 40,205 shares of the company’s stock, valued at approximately $635,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SONO. Nisa Investment Advisors LLC grew its position in shares of Sonos by 65.6% during the second quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock worth $35,000 after acquiring an additional 1,269 shares during the last quarter. Centaurus Financial Inc. boosted its stake in Sonos by 9.0% during the 2nd quarter. Centaurus Financial Inc. now owns 10,375 shares of the company’s stock valued at $112,000 after purchasing an additional 856 shares during the period. Transcend Capital Advisors LLC bought a new position in Sonos in the 2nd quarter worth about $119,000. Integrated Investment Consultants LLC acquired a new stake in shares of Sonos in the second quarter valued at approximately $139,000. Finally, Allworth Financial LP raised its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SONO. Jefferies Financial Group increased their price objective on Sonos from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sonos in a research note on Thursday, January 22nd. Morgan Stanley set a $18.00 price target on Sonos in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Sonos from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Zacks Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Sonos Stock Down 1.6%

Shares of Sonos stock opened at $15.41 on Monday. The business has a fifty day simple moving average of $16.52 and a 200-day simple moving average of $16.17. Sonos, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $19.82. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -90.65 and a beta of 2.05.

Sonos (NASDAQ:SONO) last released its earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The firm had revenue of $545.66 million for the quarter, compared to analyst estimates of $536.93 million. During the same period in the previous year, the company earned $0.64 earnings per share. Sonos’s revenue was down .9% compared to the same quarter last year. Analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Sonos

In related news, insider Edward P. Lazarus sold 12,000 shares of the business’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 directly owned 423,219 shares in the company, valued at $8,041,161. The trade was a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Coliseum Capital Management, L bought 494,719 shares of Sonos stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average price of $15.50 per share, with a total value of $7,668,144.50. Following the completion of the acquisition, the insider directly owned 15,424,999 shares of the company’s stock, valued at $239,087,484.50. This represents a 3.31% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 1,380,283 shares of company stock worth $21,736,881 in the last ninety days. Corporate insiders own 1.25% of the company’s stock.

Sonos Company Profile

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.