GSA Capital Partners LLP Takes $1.01 Million Position in Sonos, Inc. (NASDAQ:SONO)

Key Points

• GSA Capital Partners LLP has acquired a new position in Sonos, Inc., purchasing 94,469 shares valued at approximately $1.01 million, representing about 0.08% ownership in the company.
• Major shareholder Coliseum Capital Management recently bought 675,000 shares for a total of approximately $7.59 million, increasing their stake in Sonos to 14.5 million shares.
• Sonos currently has a market cap of $1.30 billion and stock analysts have varied opinions, with a consensus rating of "Hold" and a target price of $12.25.

GSA Capital Partners LLP purchased a new position in Sonos, Inc. (NASDAQ:SONO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 94,469 shares of the company's stock, valued at approximately $1,008,000. GSA Capital Partners LLP owned approximately 0.08% of Sonos as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sonos by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,501 shares of the company's stock valued at $1,030,000 after purchasing an additional 1,033 shares during the period. Envestnet Asset Management Inc. grew its holdings in Sonos by 2.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 135,071 shares of the company's stock worth $1,441,000 after buying an additional 3,591 shares in the last quarter. Mariner LLC grew its holdings in Sonos by 8.1% in the 4th quarter. Mariner LLC now owns 51,865 shares of the company's stock worth $780,000 after buying an additional 3,908 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sonos by 12.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,471 shares of the company's stock valued at $389,000 after acquiring an additional 4,053 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Sonos by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 74,827 shares of the company's stock valued at $1,125,000 after acquiring an additional 4,179 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 675,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $7,593,750.00. Following the completion of the transaction, the insider owned 14,505,191 shares in the company, valued at $163,183,398.75. The trade was a 4.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 2,387,103 shares of company stock worth $25,629,973 over the last ninety days. Company insiders own 1.80% of the company's stock.

Sonos Stock Performance

Shares of SONO stock opened at $10.81 on Friday. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $15.89. The business's fifty day moving average is $10.55 and its 200-day moving average is $11.11. The stock has a market cap of $1.30 billion, a PE ratio of -18.32 and a beta of 2.04.

Analyst Ratings Changes

Several research firms have recently issued reports on SONO. Rosenblatt Securities decreased their price target on Sonos from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group lowered their target price on shares of Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Wall Street Zen downgraded shares of Sonos from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sonos has a consensus rating of "Hold" and a consensus target price of $12.25.

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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