Trexquant Investment LP Makes New Investment in 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 purchased a new position in Sonos, Inc. (NASDAQ:SONO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 114,694 shares of the company's stock, valued at approximately $1,224,000. Trexquant Investment LP owned 0.10% of Sonos as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Trigran Investments Inc. boosted its holdings in Sonos by 24.0% in the 1st quarter. Trigran Investments Inc. now owns 5,248,935 shares of the company's stock worth $56,006,000 after acquiring an additional 1,017,223 shares during the period. Wellington Management Group LLP boosted its holdings in Sonos by 10.6% in the 4th quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company's stock worth $54,957,000 after acquiring an additional 351,057 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Sonos by 14.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,187,522 shares of the company's stock worth $47,940,000 after acquiring an additional 408,479 shares during the period. Charles Schwab Investment Management Inc. boosted 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 worth $18,554,000 after acquiring an additional 40,539 shares during the period. Finally, Northern Trust Corp boosted its holdings in Sonos by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,322,873 shares of the company's stock worth $14,115,000 after acquiring an additional 5,161 shares during the period. Hedge funds and other institutional investors own 85.82% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on SONO. Rosenblatt Securities restated 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 Sonos from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sonos has an average rating of "Hold" and an average target price of $13.67.

Sonos Trading Up 2.2%

SONO stock opened at $14.69 on Friday. The firm has a market cap of $1.78 billion, a P/E ratio of -22.60 and a beta of 2.17. Sonos, Inc. has a 12-month low of $7.63 and a 12-month high of $15.89. The stock's 50 day simple moving average is $11.94 and its 200 day simple moving average is $10.94.

Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $344.76 million for the quarter, compared to analyst estimates 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 was down 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. On average, research analysts forecast that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Insider Transactions at Sonos

In other 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 shares were acquired at an average cost of $11.21 per share, with a total value of $616,550.00. Following the transaction, the insider owned 14,930,280 shares in the company, valued at approximately $167,368,438.80. The trade was a 0.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julius Genachowski acquired 22,850 shares of the stock in a transaction that occurred 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 $1,362,136.20. The trade was a 22.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,950,069 shares of company stock valued at $31,713,016. 1.80% of the stock is currently owned by insiders.

Sonos 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.

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