Nisa Investment Advisors LLC Decreases Position in Sonos, Inc. (NASDAQ:SONO)

Nisa Investment Advisors LLC trimmed its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 61.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,866 shares of the company’s stock after selling 2,993 shares during the period. Nisa Investment Advisors LLC’s holdings in Sonos were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Trigran Investments Inc. boosted its holdings in Sonos by 7.0% during the 3rd quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock valued at $86,477,000 after acquiring an additional 436,696 shares during the period. Hawk Ridge Capital Management LP boosted its stake in shares of Sonos by 382.6% during the third quarter. Hawk Ridge Capital Management LP now owns 4,097,212 shares of the company’s stock valued at $52,895,000 after purchasing an additional 3,248,148 shares during the period. Wellington Management Group LLP grew its holdings in shares of Sonos by 26.7% in the third quarter. Wellington Management Group LLP now owns 2,741,356 shares of the company’s stock worth $35,391,000 after purchasing an additional 576,939 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Sonos by 11.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,680,619 shares of the company’s stock worth $34,607,000 after buying an additional 278,129 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Sonos by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,312,778 shares of the company’s stock valued at $16,948,000 after buying an additional 87,341 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Sonos Price Performance

SONO stock opened at $17.19 on Tuesday. The firm has a 50-day moving average of $18.49 and a 200 day moving average of $15.97. The company has a market cap of $2.13 billion, a P/E ratio of -572.81 and a beta of 1.99. Sonos, Inc. has a 1 year low of $9.78 and a 1 year high of $21.98.

Sonos (NASDAQ:SONO) last released its earnings results on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.22. The company had revenue of $612.87 million during the quarter, compared to analysts’ expectations of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. On average, equities research analysts expect that Sonos, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the sale, the director now owns 37,334 shares of the company’s stock, valued at $683,585.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. Following the sale, the insider now directly owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Conrad sold 5,337 shares of Sonos stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total value of $97,720.47. Following the completion of the transaction, the director now directly owns 37,334 shares of the company’s stock, valued at approximately $683,585.54. The disclosure for this sale can be found here. Insiders sold a total of 27,147 shares of company stock worth $484,972 in the last three months. 3.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SONO has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $24.00 price target on shares of Sonos in a report on Monday, March 25th. Morgan Stanley boosted their price target on Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, TheStreet upgraded Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company 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.