Connor Clark & Lunn Investment Management Ltd. Sells 195,581 Shares of Sonos, Inc. $SONO

Connor Clark & Lunn Investment Management Ltd. cut its stake in Sonos, Inc. (NASDAQ:SONO) by 25.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 585,391 shares of the company’s stock after selling 195,581 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sonos were worth $6,328,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SONO. Fox Run Management L.L.C. raised its position in Sonos by 10.1% in the 1st quarter. Fox Run Management L.L.C. now owns 12,332 shares of the company’s stock worth $132,000 after purchasing an additional 1,128 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Sonos by 65.6% in the second quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock worth $35,000 after buying an additional 1,269 shares during the period. Blueshift Asset Management LLC lifted its stake in shares of Sonos by 11.4% during the 1st quarter. Blueshift Asset Management LLC now owns 13,360 shares of the company’s stock worth $143,000 after acquiring an additional 1,367 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Sonos by 38.8% during the 1st quarter. Headlands Technologies LLC now owns 7,760 shares of the company’s stock valued at $83,000 after acquiring an additional 2,168 shares during the period. Finally, HighTower Advisors LLC grew its position in Sonos by 5.1% in the 1st quarter. HighTower Advisors LLC now owns 49,958 shares of the company’s stock valued at $533,000 after acquiring an additional 2,407 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Price Performance

Shares of NASDAQ SONO opened at $17.11 on Thursday. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $18.06. The business has a fifty day moving average price of $16.25 and a 200 day moving average price of $12.84. The stock has a market capitalization of $2.07 billion, a P/E ratio of -32.90 and a beta of 2.27.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.11). The company had revenue of $287.90 million during the quarter, compared to analysts’ expectations of $535.43 million. Sonos had a negative net margin of 4.24% and a negative return on equity of 11.66%. Sonos’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.44) EPS. Sonos has set its Q1 2026 guidance at EPS. As a group, equities research analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SONO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sonos in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Sonos from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Rosenblatt Securities upped their target price on shares of Sonos from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley set a $17.00 price target on shares of Sonos and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.00.

Sonos Company Profile

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.