Ieq Capital LLC Makes New $2.47 Million Investment in Sonos, Inc. $SONO

Ieq Capital LLC bought a new stake in Sonos, Inc. (NASDAQ:SONO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 182,507 shares of the company’s stock, valued at approximately $2,469,000. Ieq Capital LLC owned 0.15% of Sonos as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hantz Financial Services Inc. increased its position in shares of Sonos by 307.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock worth $31,000 after purchasing an additional 1,330 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Sonos by 699.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock valued at $36,000 after buying an additional 1,798 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Sonos in the fourth quarter valued at about $50,000. Quarry LP boosted its stake in Sonos by 485.8% during the third quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after buying an additional 2,696 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Sonos during the fourth quarter valued at about $64,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Stock Performance

NASDAQ SONO opened at $15.41 on Tuesday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 34.25 and a beta of 1.95. The firm has a 50 day simple moving average of $14.92 and a 200-day simple moving average of $14.79. Sonos, Inc. has a one year low of $12.44 and a one year high of $19.82.

Sonos (NASDAQ:SONO) last released its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.23. The company had revenue of $375.26 million for the quarter, compared to analyst estimates of $365.65 million. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) EPS. Equities analysts predict that Sonos, Inc. will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Sonos from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Wall Street Zen cut Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Rosenblatt Securities restated a “buy” rating and set a $21.00 price target on shares of Sonos in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Sonos has a consensus rating of “Hold” and an average target price of $20.00.

Insider Activity

In other news, Director Julius Genachowski sold 19,855 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $17.00, for a total value of $337,535.00. Following the sale, the director directly owned 53,775 shares in the company, valued at approximately $914,175. This trade represents a 26.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.25% of the company’s stock.

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.