Sonos, Inc. $SONO Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. sold 10.2% of its holdings in Sonos, Inc., bringing its total ownership to 358,677 shares valued at approximately $3.88 million.
• Sonos stock price increased by 4.7%, opening at $17.81, with a market cap of $2.15 billion and a 52-week range between $7.63 and $17.85.
• Sonos reported a quarterly loss of ($0.03) per share, missing expectations, despite revenue of $344.76 million, which was higher than anticipated but down 13.2% year-over-year.

Robeco Institutional Asset Management B.V. cut its holdings in Sonos, Inc. (NASDAQ:SONO - Free Report) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 358,677 shares of the company's stock after selling 40,718 shares during the period. Robeco Institutional Asset Management B.V. owned 0.30% of Sonos worth $3,877,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Systematic Financial Management LP raised its holdings in Sonos by 21.6% in the 1st quarter. Systematic Financial Management LP now owns 1,179,243 shares of the company's stock valued at $12,583,000 after acquiring an additional 209,725 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Sonos by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,738,910 shares of the company's stock valued at $18,554,000 after acquiring an additional 40,539 shares during the last quarter. SG Americas Securities LLC raised its holdings in Sonos by 62.3% in the 1st quarter. SG Americas Securities LLC now owns 66,277 shares of the company's stock valued at $707,000 after acquiring an additional 25,438 shares during the last quarter. GAMMA Investing LLC raised its holdings in Sonos by 710.3% in the 1st quarter. GAMMA Investing LLC now owns 32,800 shares of the company's stock valued at $350,000 after acquiring an additional 28,752 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Sonos in the 1st quarter valued at $1,224,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Stock Up 4.7%

SONO stock opened at $17.81 on Tuesday. The business has a fifty day simple moving average of $13.93 and a 200-day simple moving average of $11.40. Sonos, Inc. has a 52 week low of $7.63 and a 52 week high of $17.85. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -27.40 and a beta of 2.26.

Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly 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). Sonos had a negative return on equity of 18.19% and a negative net margin of 5.41%.The business had revenue of $344.76 million for the quarter, compared to analysts' expectations of $324.66 million. During the same period last year, the company posted $0.03 earnings per share. The firm's revenue for the quarter was down 13.2% on a year-over-year basis. As a group, analysts expect that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on SONO. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price target on shares of Sonos in a report on Wednesday, August 20th. Wall Street Zen upgraded Sonos from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Sonos in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Sonos presently has an average rating of "Hold" and a consensus target price of $15.00.

Insider Buying and Selling at Sonos

In other Sonos news, CFO Saori Casey purchased 22,727 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $10.94 per share, with a total value of $248,633.38. Following the transaction, the chief financial officer owned 107,000 shares in the company, valued at approximately $1,170,580. This trade represents a 26.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $11.21 per share, with a total value of $616,550.00. Following the completion of the transaction, the insider owned 14,930,280 shares in the company, valued at $167,368,438.80. This trade represents a 0.37% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 1,875,053 shares of company stock valued at $20,886,926 in the last quarter. Company insiders own 1.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.