Vanguard Group Inc. Acquires 204,934 Shares of Sonos, Inc. $SONO

Vanguard Group Inc. raised its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 13,935,287 shares of the company’s stock after buying an additional 204,934 shares during the period. Vanguard Group Inc. owned about 0.12% of Sonos worth $244,704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC grew its position in Sonos by 10.2% during the fourth quarter. GAMMA Investing LLC now owns 6,832 shares of the company’s stock valued at $120,000 after acquiring an additional 631 shares during the last quarter. Centaurus Financial Inc. grew its position in Sonos by 6.6% during the third quarter. Centaurus Financial Inc. now owns 11,056 shares of the company’s stock valued at $175,000 after acquiring an additional 681 shares during the last quarter. Arizona State Retirement System grew its position in Sonos by 2.3% during the third quarter. Arizona State Retirement System now owns 31,970 shares of the company’s stock valued at $505,000 after acquiring an additional 706 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Sonos by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 88,302 shares of the company’s stock valued at $955,000 after acquiring an additional 833 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Sonos by 31.0% during the third quarter. Nisa Investment Advisors LLC now owns 4,195 shares of the company’s stock valued at $66,000 after acquiring an additional 992 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SONO has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday. Wall Street Zen cut shares of Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Rosenblatt Securities restated a “buy” rating and issued a $21.00 target price on shares of Sonos in a report on Tuesday. Morgan Stanley set a $18.00 target price on shares of Sonos in a report on Wednesday, February 4th. Finally, Zacks Research cut shares of Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.00.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average price of $13.57 per share, for a total transaction of $1,696,250.00. Following the completion of the acquisition, the insider directly owned 18,070,762 shares in the company, valued at approximately $245,220,240.34. The trade was a 0.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 2,407,459 shares of company stock valued at $35,349,436 in the last quarter. Insiders own 1.25% of the company’s stock.

Sonos Stock Up 1.1%

NASDAQ:SONO opened at $15.06 on Friday. The stock has a market cap of $1.79 billion, a P/E ratio of 88.58 and a beta of 1.94. The firm’s fifty day simple moving average is $14.03 and its 200 day simple moving average is $15.88. Sonos, Inc. has a twelve month low of $9.65 and a twelve month high of $19.82.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.08. The business had revenue of $545.66 million for the quarter, compared to analysts’ expectations of $536.93 million. Sonos had a net margin of 1.62% and a return on equity of 14.06%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, analysts expect that Sonos, Inc. will post 0.58 EPS for the current fiscal year.

Sonos 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.