First Eagle Investment Management LLC Purchases New Holdings in Sonos, Inc. $SONO

First Eagle Investment Management LLC acquired a new position in Sonos, Inc. (NASDAQ:SONO) during the 4th quarter, HoldingsChannel reports. The fund acquired 246,406 shares of the company’s stock, valued at approximately $4,327,000.

Several other large investors also recently bought and sold shares of SONO. AQR Capital Management LLC raised its holdings in shares of Sonos by 22.4% during the first quarter. AQR Capital Management LLC now owns 51,169 shares of the company’s stock valued at $546,000 after acquiring an additional 9,355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sonos by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company’s stock worth $768,000 after acquiring an additional 3,483 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Sonos by 38.5% in the first quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock worth $1,613,000 after acquiring an additional 42,006 shares during the last quarter. Strs Ohio purchased a new stake in shares of Sonos during the first quarter worth approximately $147,000. Finally, Norges Bank purchased a new stake in shares of Sonos during the second quarter worth approximately $289,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Sonos Stock Performance

NASDAQ:SONO opened at $14.64 on Thursday. Sonos, Inc. has a one year low of $9.65 and a one year high of $19.82. The stock has a market cap of $1.74 billion, a PE ratio of 86.12 and a beta of 1.94. The stock has a 50 day moving average price of $14.00 and a 200 day moving average price of $15.83.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Zacks Research lowered Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 target price on shares of Sonos in a report on Tuesday, May 5th. Morgan Stanley set a $18.00 target price on shares of Sonos in a research report on Wednesday, February 4th. Wall Street Zen downgraded shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sonos currently has an average rating of “Hold” and a consensus price target of $20.00.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L bought 125,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average cost of $13.57 per share, with a total value of $1,696,250.00. Following the purchase, the insider directly owned 18,070,762 shares of the company’s stock, valued at $245,220,240.34. The trade was a 0.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders acquired 2,307,459 shares of company stock valued at $33,738,436. 1.25% of the stock is owned by company insiders.

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.