PDT Partners LLC Has $3.64 Million Position in Sonos, Inc. $SONO

Key Points

• PDT Partners LLC increased its holdings in Sonos, Inc. by 134.1% during the first quarter, owning 340,670 shares worth approximately $3.6 million after buying an additional 195,160 shares.
• Sonos reported a negative EPS of ($0.03) for its latest quarter, missing the consensus estimate by $0.01, with revenue down 13.2% year-over-year.
• Coliseum Capital Management, a major shareholder, purchased 675,000 shares at an average price of $11.25, increasing its ownership to approximately 14.5 million shares valued at about $163.2 million.

PDT Partners LLC increased its stake in Sonos, Inc. (NASDAQ:SONO - Free Report) by 134.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,670 shares of the company's stock after purchasing an additional 195,160 shares during the quarter. PDT Partners LLC owned approximately 0.29% of Sonos worth $3,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in Sonos by 8.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 90,444 shares of the company's stock valued at $1,361,000 after acquiring an additional 7,110 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Sonos during the 4th quarter valued at about $406,000. Northern Trust Corp grew its stake in Sonos by 9.0% during the 4th quarter. Northern Trust Corp now owns 1,317,712 shares of the company's stock valued at $19,818,000 after acquiring an additional 109,269 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Sonos by 10.9% during the 4th quarter. Ameriprise Financial Inc. now owns 655,241 shares of the company's stock valued at $9,855,000 after acquiring an additional 64,241 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new position in Sonos during the 4th quarter valued at about $1,228,000. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 675,000 shares of the company's stock in a transaction 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 transaction, the insider directly owned 14,505,191 shares in the company, valued at approximately $163,183,398.75. This represents a 4.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 2,950,069 shares of company stock valued at $31,713,016. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

SONO has been the topic of several research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $17.00 target price 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 report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $13.67.

Sonos Price Performance

SONO traded up $0.32 on Friday, hitting $14.69. The company had a trading volume of 2,297,339 shares, compared to its average volume of 2,181,807. The company's fifty day moving average price is $11.94 and its 200 day moving average price is $10.94. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $15.89. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -22.60 and a beta of 2.17.

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

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.