Vanguard Group Inc. Raises Holdings in Sonos, Inc. $SONO

Vanguard Group Inc. lifted its stake in Sonos, Inc. (NASDAQ:SONO) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,730,353 shares of the company’s stock after purchasing an additional 768,776 shares during the quarter. Vanguard Group Inc. owned about 11.36% of Sonos worth $216,940,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in Sonos by 65.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock worth $35,000 after purchasing an additional 1,269 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of Sonos by 9.0% in the second quarter. Centaurus Financial Inc. now owns 10,375 shares of the company’s stock worth $112,000 after buying an additional 856 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Sonos during the second quarter worth $139,000. Allworth Financial LP lifted its stake in shares of Sonos by 1,917.0% during the second quarter. Allworth Financial LP now owns 12,929 shares of the company’s stock worth $140,000 after buying an additional 12,288 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Sonos by 359.2% during the second quarter. Tower Research Capital LLC TRC now owns 13,568 shares of the company’s stock valued at $147,000 after buying an additional 10,613 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sonos

In other news, major shareholder Coliseum Capital Management, L bought 118,020 shares of Sonos stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $15.25 per share, with a total value of $1,799,805.00. Following the completion of the acquisition, the insider directly owned 16,921,842 shares of the company’s stock, valued at $258,058,090.50. The trade was a 0.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward P. Lazarus sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $19.00, for a total value of $228,000.00. Following the sale, the insider owned 423,219 shares of the company’s stock, valued at $8,041,161. The trade was a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have bought 1,991,562 shares of company stock valued at $30,876,917 in the last three months. Corporate insiders own 1.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SONO shares. Zacks Research upgraded Sonos from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Wall Street Zen upgraded Sonos from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Morgan Stanley set a $18.00 target price on Sonos in a report on Wednesday, February 4th. Jefferies Financial Group increased their price target on shares of Sonos from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sonos in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Sonos Price Performance

Shares of SONO stock opened at $15.40 on Monday. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $19.82. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -90.59 and a beta of 1.96. The stock has a 50 day simple moving average of $16.21 and a 200-day simple moving average of $16.28.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.85 by $0.08. The company had revenue of $545.66 million during 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 previous year, the firm earned $0.64 EPS. Analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

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.