Cwm LLC Has $647,000 Stock Holdings in Sonos, Inc. $SONO

Key Points

• Cwm LLC significantly increased its holdings in Sonos, Inc. by 2,064.7% in Q2, now owning 59,896 shares valued at $647,000.
• Major shareholder Coliseum Capital Management acquired 675,000 additional shares of Sonos, bringing their total ownership to approximately $163 million.
• Analysts have mixed views on Sonos, with one upgrading the stock from "sell" to "hold," while another maintains a "buy" rating with a price target of $17.00.

Cwm LLC grew its holdings in Sonos, Inc. (NASDAQ:SONO - Free Report) by 2,064.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,896 shares of the company's stock after buying an additional 57,129 shares during the quarter. Cwm LLC's holdings in Sonos were worth $647,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SONO. Coliseum Capital Management LLC increased its stake in shares of Sonos by 9.7% in the first quarter. Coliseum Capital Management LLC now owns 11,775,582 shares of the company's stock valued at $125,645,000 after buying an additional 1,041,569 shares in the last quarter. Trigran Investments Inc. increased its stake in shares of Sonos by 24.0% in the first quarter. Trigran Investments Inc. now owns 5,248,935 shares of the company's stock valued at $56,006,000 after buying an additional 1,017,223 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Sonos in the first quarter valued at $5,067,000. Jones Financial Companies Lllp increased its stake in shares of Sonos by 22,701.2% in the first quarter. Jones Financial Companies Lllp now owns 353,190 shares of the company's stock valued at $3,769,000 after buying an additional 351,641 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in shares of Sonos by 21.6% in the first quarter. Systematic Financial Management LP now owns 1,179,243 shares of the company's stock valued at $12,583,000 after buying an additional 209,725 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L acquired 675,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of $11.25 per share, for a total transaction of $7,593,750.00. Following the acquisition, the insider directly owned 14,505,191 shares of the company's stock, valued at approximately $163,183,398.75. This trade represents a 4.88% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Conrad acquired 92,300 shares of the business's stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $11.10 per share, for a total transaction of $1,024,530.00. Following the acquisition, the chief executive officer directly owned 242,778 shares in the company, valued at $2,694,835.80. This represents a 61.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 1,587,966 shares of company stock worth $17,677,293 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Sonos Trading Up 4.8%

Shares of SONO opened at $17.37 on Friday. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $18.06. The stock has a market cap of $2.10 billion, a P/E ratio of -26.72 and a beta of 2.26. The stock's 50-day moving average price is $15.32 and its two-hundred day moving average price is $11.96.

Sonos (NASDAQ:SONO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). Sonos had a negative return on equity of 18.19% and a negative net margin of 5.41%.The company had revenue of $344.76 million for the quarter, compared to the consensus estimate of $324.66 million. During the same quarter last year, the business posted $0.03 EPS. Sonos's quarterly revenue was down 13.2% on a year-over-year basis. As a group, equities analysts forecast that Sonos, Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SONO shares. Wall Street Zen upgraded Sonos from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price objective on shares of Sonos in a research report on Wednesday, August 20th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Sonos in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $15.00.

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.

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