Jones Financial Companies Lllp Buys 351,641 Shares of Sonos, Inc. $SONO

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Sonos by 22,701.2%, acquiring an additional 351,641 shares during Q1, bringing its total holdings to approximately $3.77 million.
• Sonos reported a net loss, missing EPS estimates, with quarterly revenue down 13.2% year-over-year, amounting to $344.76 million.
• Analysts have mixed views on Sonos, with two rating it a Buy and one giving it a Sell, while the average target price is $13.67.

Jones Financial Companies Lllp boosted its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 22,701.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 353,190 shares of the company's stock after buying an additional 351,641 shares during the period. Jones Financial Companies Lllp owned approximately 0.29% of Sonos worth $3,769,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 acquiring an additional 1,033 shares during the period. Fox Run Management L.L.C. grew its holdings in Sonos by 10.1% during the 1st quarter. Fox Run Management L.L.C. now owns 12,332 shares of the company's stock valued at $132,000 after purchasing an additional 1,128 shares during the last quarter. Blueshift Asset Management LLC raised its position in Sonos by 11.4% in the 1st quarter. Blueshift Asset Management LLC now owns 13,360 shares of the company's stock worth $143,000 after purchasing an additional 1,367 shares during the period. Headlands Technologies LLC raised its position in 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 purchasing an additional 2,168 shares during the period. Finally, HighTower Advisors LLC lifted its stake in Sonos by 5.1% in the first quarter. HighTower Advisors LLC now owns 49,958 shares of the company's stock worth $533,000 after purchasing an additional 2,407 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

Sonos Stock Down 2.1%

Shares of NASDAQ SONO opened at $14.68 on Thursday. The business has a fifty day simple moving average of $12.17 and a two-hundred day simple moving average of $10.99. The firm has a market cap of $1.77 billion, a PE ratio of -22.58 and a beta of 2.17. Sonos, Inc. has a twelve month low of $7.63 and a twelve month high of $15.89.

Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly 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). The firm had revenue of $344.76 million for the quarter, compared to the consensus estimate of $324.66 million. Sonos had a negative return on equity of 18.19% and a negative net margin of 5.41%.Sonos's quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. On average, research analysts expect that Sonos, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Transactions at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L acquired 675,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $11.25 per share, with a total value of $7,593,750.00. Following the completion of the acquisition, the insider directly owned 14,505,191 shares in the company, valued at $163,183,398.75. This represents a 4.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Conrad acquired 92,300 shares of Sonos stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost 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. This represents a 61.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,710,069 shares of company stock worth $29,262,616 in the last three months. Insiders own 1.80% of the company's stock.

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.

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