Trexquant Investment LP Acquires Shares of 114,694 Sonos, Inc. $SONO

Key Points

• Trexquant Investment LP has acquired a new position in Sonos, purchasing 114,694 shares valued at approximately $1,224,000.
• Sonos reported a quarterly earnings miss with an EPS of ($0.03), falling short of analyst expectations, while revenue was $344.76 million, beating estimates.
• Major shareholder Coliseum Capital Management recently bought 55,000 shares of Sonos, increasing their position in the company.

Trexquant Investment LP bought a new position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 114,694 shares of the company's stock, valued at approximately $1,224,000. Trexquant Investment LP owned 0.10% of Sonos at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Landscape Capital Management L.L.C. lifted its position in shares of Sonos by 184.5% in the 1st quarter. Landscape Capital Management L.L.C. now owns 286,330 shares of the company's stock worth $3,055,000 after purchasing an additional 185,675 shares during the period. OMERS ADMINISTRATION Corp increased its position in shares of Sonos by 46.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 147,242 shares of the company's stock worth $1,571,000 after acquiring an additional 47,042 shares in the last quarter. Keeley Teton Advisors LLC increased its position in shares of Sonos by 36.4% during the first quarter. Keeley Teton Advisors LLC now owns 40,123 shares of the company's stock worth $428,000 after acquiring an additional 10,704 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of Sonos by 21.6% in the 1st quarter. Systematic Financial Management LP now owns 1,179,243 shares of the company's stock worth $12,583,000 after acquiring an additional 209,725 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Sonos in the 1st quarter worth $1,955,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Sonos Price Performance

NASDAQ SONO traded up $0.47 on Thursday, reaching $15.15. 1,881,236 shares of the company's stock traded hands, compared to its average volume of 1,876,181. Sonos, Inc. has a 12 month low of $7.63 and a 12 month high of $15.89. The stock has a 50-day simple moving average of $12.25 and a 200 day simple moving average of $11.01. The stock has a market cap of $1.83 billion, a PE ratio of -23.31 and a beta of 2.17.

Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings data 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%. The business's revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. As a group, analysts anticipate that Sonos, Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

SONO has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $17.00 price target on shares of Sonos in a report on Wednesday, August 20th. Wall Street Zen raised shares of Sonos from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sonos currently has a consensus rating of "Hold" and a consensus target price of $13.67.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $11.21 per share, with a total value of $616,550.00. Following the completion of the purchase, the insider directly owned 14,930,280 shares of the company's stock, valued at $167,368,438.80. The trade was a 0.37% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Saori Casey purchased 22,727 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $10.94 per share, with a total value of $248,633.38. Following the purchase, the chief financial officer directly owned 107,000 shares of the company's stock, valued at $1,170,580. This trade represents a 26.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,710,069 shares of company stock worth $29,262,616. 1.80% of the stock is owned by company 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.