Systematic Financial Management LP Acquires 126,760 Shares of Sonos, Inc. $SONO

Systematic Financial Management LP lifted its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,306,859 shares of the company’s stock after buying an additional 126,760 shares during the quarter. Systematic Financial Management LP’s holdings in Sonos were worth $17,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SONO. Vanguard Group Inc. increased its stake in shares of Sonos by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company’s stock valued at $244,704,000 after acquiring an additional 204,934 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Sonos by 2.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,281,869 shares of the company’s stock worth $57,630,000 after acquiring an additional 85,468 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Sonos by 20.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,216,366 shares of the company’s stock worth $56,479,000 after acquiring an additional 552,886 shares in the last quarter. Geode Capital Management LLC grew its holdings in Sonos by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,908,435 shares of the company’s stock worth $51,082,000 after purchasing an additional 20,602 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Sonos by 27.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,384,430 shares of the company’s stock worth $31,949,000 after purchasing an additional 506,566 shares during the period. Institutional investors own 85.82% of the company’s stock.

Sonos Trading Down 0.9%

Shares of SONO stock opened at $14.53 on Friday. The firm has a market capitalization of $1.73 billion, a PE ratio of 85.48 and a beta of 1.96. The firm has a fifty day simple moving average of $14.76 and a two-hundred day simple moving average of $14.79. Sonos, Inc. has a 12 month low of $10.11 and a 12 month high of $19.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SONO shares. Weiss Ratings raised shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Zacks Research cut shares of Sonos from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 target price on shares of Sonos in a research note on Monday, June 15th. Finally, Wall Street Zen lowered Sonos from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.00.

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.