Bank of New York Mellon Corp Invests $9.28 Million in Sonos, Inc. $SONO

Key Points

• Bank of New York Mellon acquired 686,002 Sonos shares worth approximately $9.28 million, representing about 0.58% of the company. Institutional investors collectively own 85.82% of Sonos.
• Analysts maintain a cautious outlook: Sonos has a consensus “Hold” rating and a $20.00 average price target, while two analysts rate the stock Buy and three rate it Hold.
• Sonos reported a quarterly earnings and revenue beat, with EPS of $0.27 versus $0.04 expected and revenue of $375.26 million, up 8.8% year over year. However, a director sold $337,535 worth of shares, and competition from JBL remains a concern.

Bank of New York Mellon Corp acquired a new stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 686,002 shares of the company's stock, valued at approximately $9,282,000. Bank of New York Mellon Corp owned approximately 0.58% of Sonos as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SONO. Rosenblatt Securities reissued a "buy" rating and issued a $21.00 price objective on shares of Sonos in a report on Thursday, July 30th. Wall Street Zen lowered Sonos from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings upgraded Sonos from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Sonos presently has a consensus rating of "Hold" and a consensus target price of $20.00.

Insider Transactions at Sonos

In other Sonos news, Director Julius Genachowski sold 19,855 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total transaction of $337,535.00. Following the transaction, the director directly owned 53,775 shares of the company's stock, valued at $914,175. This trade represents a 26.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is currently owned by insiders.

More Sonos News

Here are the key news stories impacting Sonos this week:

• Positive Sentiment: New hardware expands Sonos’ premium lineup. Sonos introduced the Beam Ultra soundbar, featuring up-firing speakers and “true 7.1.2” Dolby Atmos, with pricing starting at $699. It also unveiled the Ace Ultra headphones, which add upgraded sound, noise cancellation and the ability to switch audio directly with Sonos speakers. The products are available for preorder, creating potential for a sales boost if customer adoption is strong. Sonos Introduces Sonos 27 and new products
• Positive Sentiment: Sonos 27 makes artificial intelligence central to the user experience. The new audio operating system includes a refreshed interface and allows AI agents to control Sonos systems, addressing the app usability issues that damaged the brand’s reputation. A cleaner software experience could improve customer satisfaction, retention and ecosystem adoption. Sonos 27 AI audio controls
• Positive Sentiment: Early product coverage has been favorable. Initial reviews described the Beam Ultra as sounding strong, while coverage highlighted the Ace Ultra’s integration with the broader Sonos ecosystem. Positive reviews may support demand for the new premium devices and reinforce Sonos’ differentiation from lower-cost competitors. Beam Ultra first listen
• Neutral Sentiment: Promotional pricing on existing products, including a $200 discount on the Arc Ultra, could stimulate near-term demand and clear inventory, but may also pressure average selling prices and margins. Sonos Arc Ultra promotion
• Negative Sentiment: Competitive pressure is intensifying. JBL launched its Cove multi-room speakers specifically targeting Sonos’ core market. The competing products could make it harder for Sonos to regain market share, particularly if JBL competes aggressively on price. JBL Cove speakers challenge Sonos

Sonos Price Performance

Sonos stock opened at $15.98 on Thursday. The stock has a market capitalization of $1.89 billion, a PE ratio of 35.51 and a beta of 1.93. The business has a 50 day simple moving average of $15.05 and a 200-day simple moving average of $14.73. Sonos, Inc. has a 12 month low of $12.44 and a 12 month high of $19.82.

Sonos (NASDAQ:SONO - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.23. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The firm had revenue of $375.26 million for the quarter, compared to analyst estimates of $365.65 million. During the same quarter last year, the firm posted ($0.03) EPS. The business's revenue was up 8.8% on a year-over-year basis. On average, equities research analysts anticipate that Sonos, Inc. will post 0.69 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.

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