Bank Julius Baer & Co. Ltd Zurich Decreases Stock Position in Sonos, Inc. (NASDAQ:SONO)

Bank Julius Baer & Co. Ltd Zurich lowered its stake in Sonos, Inc. (NASDAQ:SONO) by 20.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,500 shares of the company’s stock after selling 6,500 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Sonos were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SONO. D.A. Davidson & CO. raised its position in shares of Sonos by 6.3% during the 3rd quarter. D.A. Davidson & CO. now owns 14,350 shares of the company’s stock valued at $218,000 after buying an additional 850 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Sonos by 14.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,981 shares of the company’s stock valued at $102,000 after buying an additional 880 shares in the last quarter. Radnor Capital Management LLC raised its position in shares of Sonos by 3.1% during the 2nd quarter. Radnor Capital Management LLC now owns 33,300 shares of the company’s stock valued at $491,000 after buying an additional 1,000 shares in the last quarter. American International Group Inc. raised its position in shares of Sonos by 2.4% during the 2nd quarter. American International Group Inc. now owns 48,565 shares of the company’s stock valued at $711,000 after buying an additional 1,139 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its position in shares of Sonos by 11.0% during the 3rd quarter. Perigon Wealth Management LLC now owns 14,729 shares of the company’s stock valued at $224,000 after buying an additional 1,464 shares in the last quarter. Institutional investors and hedge funds own 66.47% of the company’s stock.

Shares of SONO stock opened at $20.94 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.89 and a quick ratio of 1.55. The company has a market capitalization of $2.32 billion, a P/E ratio of -30.79, a P/E/G ratio of 1.89 and a beta of 1.56. The company’s 50-day simple moving average is $15.50 and its two-hundred day simple moving average is $13.95. Sonos, Inc. has a one year low of $6.58 and a one year high of $22.37.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Wednesday, November 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.13. Sonos had a negative net margin of 5.32% and a negative return on equity of 12.52%. On average, research analysts expect that Sonos, Inc. will post -0.05 EPS for the current fiscal year.

In other news, CEO Patrick Spence sold 18,726 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $15.03, for a total transaction of $281,451.78. Following the transaction, the chief executive officer now directly owns 116,768 shares in the company, valued at $1,755,023.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Julius Genachowski sold 15,000 shares of the stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $17.00, for a total transaction of $255,000.00. Following the transaction, the director now owns 67,622 shares in the company, valued at $1,149,574. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,726 shares of company stock worth $1,174,552. Insiders own 11.20% of the company’s stock.

SONO has been the topic of several recent research reports. BidaskClub cut shares of Sonos from a “buy” rating to a “hold” rating in a research report on Wednesday, October 7th. Raymond James cut shares of Sonos from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 29th. Zacks Investment Research upgraded shares of Sonos from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Saturday. Bank of America upgraded shares of Sonos from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.50 to $18.00 in a report on Thursday, October 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $16.00 price target on shares of Sonos in a report on Monday, August 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $20.06.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

Further Reading: What does a market perform rating mean?

Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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