Systematic Financial Management LP Has $17.51 Million Stock Holdings in Sonos, Inc. $SONO

Key Points

• Systematic Financial Management LP increased its Sonos position by 10.7% in the first quarter, adding 126,760 shares and bringing its total to 1,306,859 shares worth about $17.51 million.
• Other institutional investors also adjusted their holdings, and overall institutional ownership stands at 85.82% of Sonos shares.
• Sonos stock was down 0.9% to $14.53, while analysts currently have a mixed view with an average Hold rating and a consensus price target of $20.00.

Systematic Financial Management LP lifted its position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,306,859 shares of the company's stock after purchasing an additional 126,760 shares during the period. Systematic Financial Management LP owned about 1.10% of Sonos worth $17,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SONO. AQR Capital Management LLC boosted its position in Sonos by 22.4% during the 1st quarter. AQR Capital Management LLC now owns 51,169 shares of the company's stock worth $546,000 after buying an additional 9,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Sonos by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company's stock valued at $768,000 after acquiring an additional 3,483 shares during the period. Intech Investment Management LLC increased its position in Sonos by 38.5% in the 1st quarter. Intech Investment Management LLC now owns 151,152 shares of the company's stock valued at $1,613,000 after acquiring an additional 42,006 shares during the period. Strs Ohio bought a new position in shares of Sonos during the first quarter valued at $147,000. Finally, Norges Bank bought a new position in shares of Sonos during the second quarter valued at $289,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Sonos Stock Down 0.9%

SONO stock opened at $14.53 on Friday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 85.48 and a beta of 1.96. The company's fifty day simple moving average is $14.76 and its 200 day simple moving average is $14.79. Sonos, Inc. has a 12-month low of $10.11 and a 12-month high of $19.82.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Zacks Research lowered shares of Sonos from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $21.00 target price on shares of Sonos in a research report on Monday, June 15th. Weiss Ratings raised Sonos from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, May 7th. Finally, Wall Street Zen lowered Sonos from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.00.

About Sonos

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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