Sonos, Inc. $SONO Shares Bought by Jones Financial Companies Lllp

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 the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 353,190 shares of the company's stock after purchasing an additional 351,641 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.29% of Sonos worth $3,769,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SONO. Coliseum Capital Management LLC increased its holdings in Sonos by 9.7% during the 1st quarter. Coliseum Capital Management LLC now owns 11,775,582 shares of the company's stock worth $125,645,000 after purchasing an additional 1,041,569 shares during the period. Trigran Investments Inc. increased its holdings in Sonos by 24.0% during the 1st quarter. Trigran Investments Inc. now owns 5,248,935 shares of the company's stock worth $56,006,000 after purchasing an additional 1,017,223 shares during the period. Point72 Asset Management L.P. purchased a new stake in Sonos during the 4th quarter worth about $13,057,000. Nuveen LLC purchased a new stake in Sonos during the 1st quarter worth about $5,067,000. Finally, Wellington Management Group LLP increased its holdings in Sonos by 10.6% during the 4th quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company's stock worth $54,957,000 after purchasing an additional 351,057 shares during the period. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insider Buying and Selling

In related news, Director Julius Genachowski acquired 22,850 shares of the firm's stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $10.95 per share, with a total value of $250,207.50. Following the transaction, the director owned 124,396 shares of the company's stock, valued at $1,362,136.20. The trade was a 22.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Conrad acquired 92,300 shares of the firm's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $11.10 per share, with a total value of $1,024,530.00. Following the completion of the transaction, the chief executive officer directly owned 242,778 shares in the company, valued at $2,694,835.80. This trade represents a 61.34% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 2,298,481 shares of company stock valued at $25,132,123 over the last 90 days. Insiders own 1.80% of the company's stock.

Sonos Stock Down 0.3%

NASDAQ:SONO traded down $0.04 during mid-day trading on Tuesday, reaching $15.52. 1,929,921 shares of the stock were exchanged, compared to its average volume of 1,777,901. The company has a 50 day simple moving average of $12.52 and a 200-day simple moving average of $11.03. The stock has a market capitalization of $1.88 billion, a P/E ratio of -23.88 and a beta of 2.17. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $15.89.

Sonos (NASDAQ:SONO - Get Free Report) last released 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). Sonos had a negative return on equity of 18.19% and a negative net margin of 5.41%.The firm had revenue of $344.76 million for the quarter, compared to analysts' expectations of $324.66 million. During the same quarter in the prior year, the business earned $0.03 EPS. The company's quarterly revenue was down 13.2% compared to the same quarter last year. As a group, research analysts predict that Sonos, Inc. will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SONO shares. Wall Street Zen upgraded Sonos from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Rosenblatt Securities reiterated a "buy" rating and issued 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.