Petrus Trust Company LTA Invests $200,000 in Sonos, Inc. $SONO

Key Points

• Petrus Trust Company LTA acquired 18,750 shares of Sonos, Inc. for approximately $200,000 in the first quarter.
• Multiple hedge funds have increased their stakes in Sonos, with Systematic Financial Management LP growing its position by 21.6% to 1,179,243 shares.
• Sonos reported a loss of $0.03 per share for the quarter, missing analyst estimates, while its revenue decreased by 13.2% year-over-year.

Petrus Trust Company LTA acquired a new stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 18,750 shares of the company's stock, valued at approximately $200,000.

Other hedge funds have also recently made changes to their positions in the company. AlphaQuest LLC bought a new stake in shares of Sonos in the 1st quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sonos in the 4th quarter worth approximately $103,000. Centaurus Financial Inc. bought a new stake in shares of Sonos in the 4th quarter worth approximately $108,000. Headlands Technologies LLC boosted its position in shares of 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 in the last quarter. Finally, State of Wyoming bought a new stake in shares of Sonos in the 1st quarter worth approximately $85,000. 85.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SONO. Wall Street Zen raised Sonos from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Rosenblatt Securities restated 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $13.67.

Sonos Stock Down 0.1%

SONO traded down $0.02 during mid-day trading on Friday, reaching $15.13. 1,240,720 shares of the company traded hands, compared to its average volume of 1,854,390. The stock has a market capitalization of $1.83 billion, a P/E ratio of -23.28 and a beta of 2.17. The company's fifty day moving average price is $12.33 and its 200-day moving average price is $11.00. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $15.89.

Sonos (NASDAQ:SONO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The company had revenue of $344.76 million for the quarter, compared to analysts' expectations of $324.66 million. Sonos had a negative net margin of 5.41% and a negative return on equity of 18.19%. Sonos's quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, sell-side analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Sonos

In related news, CEO Thomas Conrad bought 92,300 shares of the firm's stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $11.10 per share, for a total transaction of $1,024,530.00. Following the purchase, the chief executive officer owned 242,778 shares in the company, valued at approximately $2,694,835.80. This represents a 61.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julius Genachowski bought 22,850 shares of the firm's stock in a transaction on Friday, August 8th. The shares were bought at an average price of $10.95 per share, with a total value of $250,207.50. Following the completion of the purchase, the director owned 124,396 shares in the company, valued at approximately $1,362,136.20. The trade was a 22.50% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,430,069 shares of company stock valued at $26,482,216 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Sonos Company 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.