ANTIPODES PARTNERS Ltd Grows Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

ANTIPODES PARTNERS Ltd raised its position in shares of Sonos, Inc. (NASDAQ:SONOGet Rating) by 57.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,981,715 shares of the company’s stock after acquiring an additional 723,181 shares during the period. Sonos makes up about 2.0% of ANTIPODES PARTNERS Ltd’s investment portfolio, making the stock its 21st largest position. ANTIPODES PARTNERS Ltd owned 1.55% of Sonos worth $55,923,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SONO. HS Management Partners LLC bought a new position in Sonos during the fourth quarter valued at $69,126,000. American Century Companies Inc. increased its position in Sonos by 236.2% during the fourth quarter. American Century Companies Inc. now owns 3,263,282 shares of the company’s stock valued at $97,246,000 after acquiring an additional 2,292,576 shares during the last quarter. Millennium Management LLC increased its position in Sonos by 147.6% during the fourth quarter. Millennium Management LLC now owns 2,559,845 shares of the company’s stock valued at $76,283,000 after acquiring an additional 1,525,876 shares during the last quarter. Stonehill Capital Management LLC bought a new position in Sonos during the fourth quarter valued at $40,744,000. Finally, Scopia Capital Management LP increased its position in Sonos by 83.5% during the fourth quarter. Scopia Capital Management LP now owns 2,258,102 shares of the company’s stock valued at $67,291,000 after acquiring an additional 1,027,351 shares during the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.

A number of research analysts have weighed in on SONO shares. TheStreet cut shares of Sonos from a “b-” rating to a “c” rating in a research report on Wednesday, May 11th. Morgan Stanley cut shares of Sonos from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $38.00 to $28.00 in a report on Tuesday, June 14th. DA Davidson cut their price target on shares of Sonos from $49.00 to $40.00 in a report on Thursday, May 12th. Finally, Jefferies Financial Group cut their price target on shares of Sonos from $45.00 to $35.00 in a report on Tuesday, May 31st.

Shares of Sonos stock opened at $17.92 on Friday. Sonos, Inc. has a 1 year low of $17.68 and a 1 year high of $42.57. The firm’s 50-day moving average is $21.07 and its two-hundred day moving average is $24.92. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.04 and a beta of 1.86.

Sonos (NASDAQ:SONOGet Rating) last issued its earnings results on Wednesday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Sonos had a net margin of 7.83% and a return on equity of 32.39%. The company had revenue of $399.78 million for the quarter, compared to analysts’ expectations of $361.40 million. During the same period in the prior year, the business earned $0.31 EPS. Research analysts predict that Sonos, Inc. will post 1.09 earnings per share for the current year.

In other Sonos news, insider Matthew O. Siegel sold 202,945 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the completion of the sale, the insider now directly owns 68,339 shares of the company’s stock, valued at $1,315,525.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joanna Coles sold 905 shares of the stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $27.71, for a total transaction of $25,077.55. Following the sale, the director now directly owns 24,717 shares of the company’s stock, valued at $684,908.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 269,992 shares of company stock worth $5,626,937. 3.60% of the stock is owned by company insiders.

About Sonos (Get Rating)

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

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