183,249 Shares in Sonos, Inc. $SONO Bought by Jump Financial LLC

Key Points

• Jump Financial LLC has invested approximately $1.96 million in Sonos, Inc., acquiring 183,249 shares, representing 0.15% ownership as per their latest SEC filing.
• Major shareholder Coliseum Capital Management increased their stake by purchasing 675,000 shares, totaling around $7.59 million, bringing their total ownership to 14.5 million shares valued at approximately $163.2 million.
• Analysts are optimistic, with one firm upgrading Sonos from a "sell" to a "hold" rating, while another set a target price of $17.00 for the stock, which presently holds a consensus rating of "Hold" and an average target price of $13.67.

Jump Financial LLC acquired a new position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 183,249 shares of the company's stock, valued at approximately $1,955,000. Jump Financial LLC owned 0.15% of Sonos at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sonos by 1.5% during 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. boosted its position in Sonos by 10.1% in the first quarter. Fox Run Management L.L.C. now owns 12,332 shares of the company's stock valued at $132,000 after buying an additional 1,128 shares in the last quarter. Blueshift Asset Management LLC boosted its position in Sonos by 11.4% in the first quarter. Blueshift Asset Management LLC now owns 13,360 shares of the company's stock valued at $143,000 after buying an additional 1,367 shares in the last quarter. Headlands Technologies LLC grew its stake in Sonos by 38.8% during the first quarter. Headlands Technologies LLC now owns 7,760 shares of the company's stock worth $83,000 after buying an additional 2,168 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Sonos by 5.1% during the first quarter. HighTower Advisors LLC now owns 49,958 shares of the company's stock worth $533,000 after buying an additional 2,407 shares during the last quarter. Institutional investors own 85.82% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, major shareholder Coliseum Capital Management, L acquired 675,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average price of $11.25 per share, with a total value of $7,593,750.00. Following the purchase, the insider directly owned 14,505,191 shares in the company, valued at approximately $163,183,398.75. This trade represents 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 this link. In the last 90 days, insiders acquired 2,950,069 shares of company stock valued at $31,713,016. Company insiders own 1.80% of the company's stock.

Sonos Stock Performance

SONO stock traded down $0.09 during mid-day trading on Monday, hitting $13.92. 1,297,641 shares of the company were exchanged, compared to its average volume of 2,493,608. The firm has a market cap of $1.68 billion, a P/E ratio of -21.42 and a beta of 2.17. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $15.89. The firm's 50 day simple moving average is $11.57 and its 200 day simple moving average is $10.87.

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

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.