Sonos, Inc. $SONO Shares Bought by Crestwood Capital Management L.P.

Crestwood Capital Management L.P. increased its position in shares of Sonos, Inc. (NASDAQ:SONO) by 19.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 615,000 shares of the company’s stock after buying an additional 100,000 shares during the period. Sonos accounts for 6.8% of Crestwood Capital Management L.P.’s holdings, making the stock its 8th biggest holding. Crestwood Capital Management L.P. owned about 0.51% of Sonos worth $9,717,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SONO. AQR Capital Management LLC raised its position in shares of Sonos by 22.4% in the 1st quarter. AQR Capital Management LLC now owns 51,169 shares of the company’s stock worth $546,000 after acquiring an additional 9,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sonos by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company’s stock worth $768,000 after purchasing an additional 3,483 shares during the period. Intech Investment Management LLC grew its stake in Sonos by 38.5% during the first quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock worth $1,613,000 after purchasing an additional 42,006 shares during the period. Strs Ohio bought a new stake in Sonos in the first quarter worth approximately $147,000. Finally, AlphaQuest LLC lifted its stake in Sonos by 534.2% in the second quarter. AlphaQuest LLC now owns 17,091 shares of the company’s stock valued at $185,000 after buying an additional 14,396 shares during the period. Institutional investors own 85.82% of the company’s stock.

Insider Activity at Sonos

In other news, major shareholder Coliseum Capital Management, L acquired 494,719 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were purchased at an average cost of $15.50 per share, with a total value of $7,668,144.50. Following the acquisition, the insider directly owned 15,424,999 shares of the company’s stock, valued at $239,087,484.50. The trade was a 3.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward P. Lazarus sold 12,000 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $19.00, for a total transaction of $228,000.00. Following the completion of the sale, the insider owned 423,219 shares of the company’s stock, valued at approximately $8,041,161. The trade was a 2.76% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have purchased 1,991,562 shares of company stock worth $30,876,917. 1.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Sonos Trading Down 2.2%

Sonos stock opened at $15.40 on Friday. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -90.59 and a beta of 2.05. The firm’s fifty day moving average price is $16.21 and its two-hundred day moving average price is $16.24. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $19.82.

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

Sonos 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.