Posted by admin on Jul 11th, 2022 
Virginia Retirement Systems ET AL cut its holdings in shares of Sonos, Inc. (NASDAQ:SONO – Get Rating) by 74.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,100 shares of the company’s stock after selling 31,600 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Sonos were worth $313,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Sonos by 236.2% during the fourth quarter. American Century Companies Inc. now owns 3,263,282 shares of the company’s stock worth $97,246,000 after purchasing an additional 2,292,576 shares during the period. Millennium Management LLC increased its holdings in shares of Sonos by 147.6% during the fourth quarter. Millennium Management LLC now owns 2,559,845 shares of the company’s stock worth $76,283,000 after purchasing an additional 1,525,876 shares during the period. HS Management Partners LLC bought a new position in shares of Sonos during the fourth quarter worth approximately $69,126,000. Scopia Capital Management LP increased its holdings in shares of Sonos by 83.5% during the fourth quarter. Scopia Capital Management LP now owns 2,258,102 shares of the company’s stock worth $67,291,000 after purchasing an additional 1,027,351 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Sonos by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,118,303 shares of the company’s stock worth $63,125,000 after purchasing an additional 34,018 shares during the period. 91.37% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on SONO shares. Jefferies Financial Group decreased their price objective on shares of Sonos from $45.00 to $35.00 in a research note on Tuesday, May 31st. Morgan Stanley cut shares of Sonos from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $38.00 to $28.00 in a research note on Tuesday, June 14th. TheStreet cut shares of Sonos from a “b-” rating to a “c” rating in a research note on Wednesday, May 11th. Finally, DA Davidson decreased their price objective on shares of Sonos from $49.00 to $40.00 in a research note on Thursday, May 12th.
Shares of Sonos stock opened at $19.83 on Monday. Sonos, Inc. has a fifty-two week low of $17.43 and a fifty-two week high of $42.57. The firm has a market capitalization of $2.54 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.99 and a beta of 1.88. The company’s 50 day moving average price is $20.66 and its two-hundred day moving average price is $24.49.
Sonos (NASDAQ:SONO – Get Rating) last issued its earnings results on Wednesday, May 11th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Sonos had a net margin of 7.83% and a return on equity of 32.39%. The firm had revenue of $399.78 million for the quarter, compared to analyst estimates of $361.40 million. During the same quarter last year, the business posted $0.31 earnings per share. Research analysts expect that Sonos, Inc. will post 1.09 earnings per share for the current year.
In other news, insider Matthew O. Siegel sold 202,945 shares of Sonos stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the transaction, the insider now owns 68,339 shares in the company, valued at $1,315,525.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick Spence sold 65,237 shares of Sonos stock in a transaction on Monday, April 18th. The stock was sold at an average price of $25.67, for a total transaction of $1,674,633.79. Following the transaction, the chief executive officer now owns 668,969 shares in the company, valued at approximately $17,172,434.23. The disclosure for this sale can be found here. Insiders sold 269,087 shares of company stock worth $5,601,859 in the last 90 days. Company insiders own 3.60% of the company’s stock.
Sonos Company Profile (Get Rating)
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.
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