Legal & General Group Plc bought a new position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 271,892 shares of the company's stock, valued at approximately $3,679,000. Legal & General Group Plc owned approximately 0.23% of Sonos at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SONO. Hantz Financial Services Inc. boosted its holdings in shares of Sonos by 307.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company's stock valued at $31,000 after buying an additional 1,330 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Sonos by 699.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company's stock worth $36,000 after purchasing an additional 1,798 shares during the period. Daiwa Securities Group Inc. bought a new position in Sonos during the 4th quarter worth about $50,000. Quarry LP raised its stake in shares of Sonos by 485.8% in the 3rd quarter. Quarry LP now owns 3,251 shares of the company's stock valued at $51,000 after purchasing an additional 2,696 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Sonos in the second quarter valued at about $59,000. 85.82% of the stock is currently owned by institutional investors.
Insider Transactions at Sonos
In related news, Director Julius Genachowski sold 19,855 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $17.00, for a total value of $337,535.00. Following the completion of the transaction, the director owned 53,775 shares of the company's stock, valued at $914,175. The trade was a 26.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $15.39, for a total transaction of $153,900.00. Following the sale, the director directly owned 84,271 shares of the company's stock, valued at $1,296,930.69. This represents a 10.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is owned by insiders.
Sonos Stock Performance
Shares of Sonos stock opened at $15.36 on Friday. The firm has a 50-day moving average of $15.13 and a 200-day moving average of $14.74. Sonos, Inc. has a 52-week low of $12.44 and a 52-week high of $19.82. The stock has a market cap of $1.82 billion, a PE ratio of 34.13 and a beta of 1.93.
Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.23. The business had revenue of $375.26 million during the quarter, compared to analysts' expectations of $365.65 million. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The business's revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) EPS. Equities research analysts predict that Sonos, Inc. will post 0.69 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
SONO has been the topic of several research reports. Wall Street Zen cut Sonos from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 22nd. Rosenblatt Securities reissued a "buy" rating and issued a $21.00 price objective on shares of Sonos in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Sonos from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.00.
View Our Latest Stock Report on SONO
About Sonos
(
Free Report)
Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company's core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.
Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.
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