Edgestream Partners L.P. cut its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 91.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,644 shares of the company's stock after selling 444,652 shares during the period. Edgestream Partners L.P.'s holdings in Sonos were worth $531,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Centaurus Financial Inc. raised its position in Sonos by 6.6% in the 3rd quarter. Centaurus Financial Inc. now owns 11,056 shares of the company's stock worth $175,000 after buying an additional 681 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in shares of Sonos by 1.7% during the 4th quarter. State of Wisconsin Investment Board now owns 43,982 shares of the company's stock valued at $772,000 after acquiring an additional 724 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Sonos by 0.7% in the fourth quarter. Intech Investment Management LLC now owns 117,718 shares of the company's stock worth $2,067,000 after acquiring an additional 776 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Sonos by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 88,302 shares of the company's stock worth $955,000 after acquiring an additional 833 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Sonos by 4.6% in the fourth quarter. ProShare Advisors LLC now owns 23,241 shares of the company's stock worth $408,000 after acquiring an additional 1,017 shares during the period. 85.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on SONO shares. Rosenblatt Securities restated a "buy" rating and set a $21.00 price objective on shares of Sonos in a research report on Thursday, July 30th. Weiss Ratings raised shares of Sonos from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Sonos from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.00.
Get Our Latest Research Report on Sonos
Sonos Price Performance
SONO stock opened at $16.42 on Wednesday. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 36.49 and a beta of 1.95. The business has a 50 day simple moving average of $14.86 and a two-hundred day simple moving average of $14.72. Sonos, Inc. has a 1-year low of $10.11 and a 1-year high of $19.82.
Insider Buying and Selling at Sonos
In other news, Director Julius Genachowski sold 19,855 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $17.00, for a total transaction of $337,535.00. Following the completion of the transaction, the director owned 53,775 shares in the company, valued at $914,175. This trade represents a 26.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is currently owned by insiders.
Sonos Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding SONO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonos, Inc. (NASDAQ:SONO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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