Sonos, Inc. $SONO Shares Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Sonos, Inc. by 3.0%, acquiring an additional 96,111 shares and now holds approximately 3,283,633 shares valued at $35 million.
• Wall Street analysts have mixed ratings on Sonos, with Rosenblatt Securities maintaining a "buy" rating and a target price of $17.00, while the average rating remains a "hold" at a target price of $13.67.
• Major shareholder Coliseum Capital Management purchased 675,000 shares at an average cost of $11.25, raising its ownership stake and reflecting ongoing insider confidence in the company's performance.

Jacobs Levy Equity Management Inc. increased its position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,283,633 shares of the company's stock after acquiring an additional 96,111 shares during the period. Jacobs Levy Equity Management Inc. owned about 2.76% of Sonos worth $35,036,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new stake in shares of Sonos in the first quarter valued at $29,000. Headlands Technologies LLC raised its stake in shares of Sonos by 38.8% in the first quarter. Headlands Technologies LLC now owns 7,760 shares of the company's stock valued at $83,000 after acquiring an additional 2,168 shares in the last quarter. State of Wyoming acquired a new stake in shares of Sonos in the first quarter valued at $85,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sonos in the fourth quarter valued at $103,000. Finally, Corient IA LLC acquired a new stake in shares of Sonos in the first quarter valued at $107,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Sonos Trading Up 0.4%

Shares of NASDAQ:SONO traded up $0.06 during trading on Monday, hitting $14.75. 1,825,497 shares of the stock were exchanged, compared to its average volume of 2,193,104. The company has a fifty day moving average price of $12.02 and a two-hundred day moving average price of $10.94. The company has a market cap of $1.78 billion, a PE ratio of -22.69 and a beta of 2.17. Sonos, Inc. has a 12-month low of $7.63 and a 12-month high of $15.89.

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

Insider Transactions at Sonos

In other news, CEO Thomas Conrad purchased 92,300 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $11.10 per share, with a total value of $1,024,530.00. Following the purchase, the chief executive officer directly owned 242,778 shares of the company's stock, valued at $2,694,835.80. The trade was a 61.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julius Genachowski purchased 22,850 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $10.95 per share, for a total transaction of $250,207.50. Following the purchase, the director directly owned 124,396 shares in the company, valued at approximately $1,362,136.20. This represents a 22.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,950,069 shares of company stock worth $31,713,016 over the last quarter. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen upgraded Sonos from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $17.00 price objective on shares of Sonos in a report on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.67.

Sonos 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.