Sonos, Inc. $SONO Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its holdings in Sonos, Inc. (NASDAQ:SONO) by 60.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 450,170 shares of the company’s stock after purchasing an additional 168,770 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.37% of Sonos worth $7,905,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SONO. Arrowstreet Capital Limited Partnership grew its holdings in shares of Sonos by 626.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,663,480 shares of the company’s stock valued at $42,083,000 after purchasing an additional 2,296,996 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Sonos by 250.8% in the second quarter. Cubist Systematic Strategies LLC now owns 1,393,706 shares of the company’s stock valued at $15,066,000 after purchasing an additional 996,425 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Sonos by 5.9% in the third quarter. Vanguard Group Inc. now owns 13,730,353 shares of the company’s stock valued at $216,940,000 after purchasing an additional 768,776 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Sonos by 1,472.4% in the second quarter. AQR Capital Management LLC now owns 804,583 shares of the company’s stock valued at $8,698,000 after purchasing an additional 753,414 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in shares of Sonos by 190.3% in the third quarter. Tudor Investment Corp ET AL now owns 722,740 shares of the company’s stock valued at $11,419,000 after purchasing an additional 473,769 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Buying and Selling at Sonos

In other news, major shareholder Coliseum Capital Management, L acquired 125,000 shares of Sonos stock in a transaction dated Tuesday, March 17th. The shares were acquired at an average cost of $13.57 per share, for a total transaction of $1,696,250.00. Following the acquisition, the insider owned 18,070,762 shares of the company’s stock, valued at $245,220,240.34. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have acquired 1,148,970 shares of company stock valued at $16,028,815. 1.25% of the stock is currently owned by company insiders.

Sonos Trading Down 0.4%

Shares of SONO opened at $15.78 on Friday. Sonos, Inc. has a twelve month low of $9.65 and a twelve month high of $19.82. The firm’s fifty day simple moving average is $14.28 and its 200-day simple moving average is $15.70. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 92.83 and a beta of 1.94.

Wall Street Analyst Weigh In

SONO has been the subject of a number of research reports. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of Sonos in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Wall Street Zen cut shares of Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research downgraded shares of Sonos from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Morgan Stanley set a $18.00 price objective on shares of Sonos in a report on Wednesday, February 4th. Two research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.00.

About Sonos

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.