Dynamic Technology Lab Private Ltd Takes Position in Sonos, Inc. $SONO

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in Sonos, purchasing 76,721 shares valued at approximately $819,000, representing about 0.06% of the company.
• Coliseum Capital Management has significantly increased its stake, buying 675,000 shares for $7,593,750, which raises insider ownership to 1.80%.
• Sonos reported a quarterly revenue decline of 13.2% year-over-year, with an earnings per share (EPS) of ($0.03), missing estimates by $0.01.

Dynamic Technology Lab Private Ltd bought a new position in Sonos, Inc. (NASDAQ:SONO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 76,721 shares of the company's stock, valued at approximately $819,000. Dynamic Technology Lab Private Ltd owned about 0.06% of Sonos at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SONO. AlphaQuest LLC bought a new stake in shares of Sonos in the 1st quarter worth about $29,000. Headlands Technologies LLC lifted its holdings in shares of Sonos by 38.8% in the 1st quarter. Headlands Technologies LLC now owns 7,760 shares of the company's stock worth $83,000 after acquiring an additional 2,168 shares during the last quarter. State of Wyoming bought a new stake in shares of Sonos in the 1st quarter worth about $85,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sonos in the 4th quarter worth about $103,000. Finally, Corient IA LLC bought a new stake in shares of Sonos in the 1st quarter worth about $107,000. Institutional investors own 85.82% of the company's stock.

Insider Buying and Selling at Sonos

In other Sonos news, CFO Saori Casey purchased 22,727 shares of Sonos stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $10.94 per share, for a total transaction of $248,633.38. Following the acquisition, the chief financial officer owned 107,000 shares in the company, valued at $1,170,580. This trade represents a 26.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Coliseum Capital Management, L purchased 55,000 shares of Sonos stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $11.21 per share, with a total value of $616,550.00. Following the acquisition, the insider owned 14,930,280 shares in the company, valued at approximately $167,368,438.80. This represents a 0.37% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,430,069 shares of company stock worth $26,482,216. 1.80% of the stock is owned by company insiders.

Sonos Stock Down 0.1%

SONO traded down $0.02 on Friday, reaching $15.13. 1,240,720 shares of the company traded hands, compared to its average volume of 1,799,527. Sonos, Inc. has a one year low of $7.63 and a one year high of $15.89. The firm has a fifty day simple moving average of $12.33 and a two-hundred day simple moving average of $10.99. The company has a market cap of $1.83 billion, a P/E ratio of -23.28 and a beta of 2.17.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SONO shares. Rosenblatt Securities restated a "buy" rating and issued a $17.00 target price on shares of Sonos in a report on Wednesday, August 20th. Wall Street Zen upgraded shares of Sonos from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Sonos has a consensus rating of "Hold" and a consensus target price of $13.67.

About Sonos

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.