Public Sector Pension Investment Board Acquires 74,481 Shares of Sonos, Inc. $SONO

Public Sector Pension Investment Board raised its stake in Sonos, Inc. (NASDAQ:SONO - Free Report) by 24.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 377,612 shares of the company's stock after acquiring an additional 74,481 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Sonos worth $4,029,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC grew its position in Sonos by 38.8% in the first quarter. Headlands Technologies LLC now owns 7,760 shares of the company's stock valued at $83,000 after acquiring an additional 2,168 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Sonos in the 4th quarter valued at $103,000. Centaurus Financial Inc. bought a new position in Sonos in the 4th quarter valued at $108,000. Blueshift Asset Management LLC raised its position in Sonos by 11.4% in the 1st quarter. Blueshift Asset Management LLC now owns 13,360 shares of the company's stock valued at $143,000 after purchasing an additional 1,367 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in Sonos in the 4th quarter valued at $162,000. 85.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on SONO. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price objective on shares of Sonos in a research report on Wednesday. Wall Street Zen upgraded 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.67.

Sonos Price Performance

Shares of SONO stock traded down $0.40 on Wednesday, reaching $12.91. 2,222,026 shares of the stock were exchanged, compared to its average volume of 2,025,803. The stock has a market cap of $1.56 billion, a PE ratio of -19.86 and a beta of 2.04. Sonos, Inc. has a one year low of $7.63 and a one year high of $15.89. The stock has a 50 day moving average price of $11.02 and a 200 day moving average price of $10.91.

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

Insider Buying and Selling

In related news, Director Julius Genachowski acquired 22,850 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $10.95 per share, for a total transaction of $250,207.50. Following the completion of the acquisition, the director owned 124,396 shares of the company's stock, valued at $1,362,136.20. This trade represents a 22.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas Conrad acquired 92,300 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $11.10 per share, with a total value of $1,024,530.00. Following the acquisition, the chief executive officer directly owned 242,778 shares of the company's stock, valued at $2,694,835.80. The trade was a 61.34% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 2,950,069 shares of company stock worth $31,713,016. Company insiders own 1.80% of the company's stock.

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.