Maryland State Retirement & Pension System Sells 627 Shares of Sonos, Inc. (NASDAQ:SONO)

Maryland State Retirement & Pension System cut its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,614 shares of the company’s stock after selling 627 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sonos were worth $799,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC bought a new position in Sonos during the 4th quarter valued at about $175,000. Natixis Advisors L.P. acquired a new stake in shares of Sonos in the fourth quarter valued at approximately $274,000. Victory Capital Management Inc. lifted its holdings in Sonos by 18.6% during the 4th quarter. Victory Capital Management Inc. now owns 489,742 shares of the company’s stock worth $8,394,000 after buying an additional 76,952 shares in the last quarter. GAMMA Investing LLC bought a new position in Sonos in the 4th quarter valued at $35,000. Finally, Duality Advisers LP acquired a new stake in shares of Sonos in the 4th quarter valued at $1,395,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Buying and Selling at Sonos

In other news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the transaction, the insider now directly owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 22,715 shares of company stock valued at $402,845 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SONO shares. Morgan Stanley upped their price target on Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $24.00 price objective on shares of Sonos in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Sonos Stock Up 2.4 %

Sonos stock opened at $17.25 on Friday. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $21.98. The company has a 50 day moving average of $18.11 and a 200-day moving average of $16.41. The stock has a market capitalization of $2.14 billion, a PE ratio of -575.00 and a beta of 2.00.

Sonos (NASDAQ:SONO) last announced its earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.22. The firm had revenue of $612.87 million during the quarter, compared to analyst estimates of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. Equities analysts anticipate that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company 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.