Tudor Investment Corp ET AL Grows Position in Sonos, Inc. $SONO

Key Points

• Tudor Investment Corp ET AL boosted its Sonos stake by 190.3% in Q3, adding 473,769 shares to hold 722,740 shares worth about $11.4 million (roughly 0.60% ownership).
• Insiders showed increased confidence: Coliseum Capital bought 125,000 shares at $13.57 and insiders purchased a total of 3,140,482 shares (~$46.9 million) over the past three months, bringing insider ownership to about 1.25%.
• Sonos recently reported an EPS beat ($0.93 vs. $0.85) and revenue of $545.7M vs. $536.9M expected; analysts' consensus is a "Moderate Buy" with an average target of $20 while the stock trades near $13.58.

Tudor Investment Corp ET AL boosted its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 190.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,740 shares of the company's stock after acquiring an additional 473,769 shares during the period. Tudor Investment Corp ET AL owned about 0.60% of Sonos worth $11,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SONO. Quarry LP lifted its position in shares of Sonos by 485.8% in the 3rd quarter. Quarry LP now owns 3,251 shares of the company's stock worth $51,000 after purchasing an additional 2,696 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Sonos by 31.0% during the third quarter. Nisa Investment Advisors LLC now owns 4,195 shares of the company's stock valued at $66,000 after purchasing an additional 992 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Sonos by 9.0% during the second quarter. Centaurus Financial Inc. now owns 10,375 shares of the company's stock valued at $112,000 after buying an additional 856 shares during the period. Integrated Investment Consultants LLC bought a new position in Sonos in the second quarter worth approximately $139,000. Finally, Tower Research Capital LLC TRC raised its stake in Sonos by 359.2% in the second quarter. Tower Research Capital LLC TRC now owns 13,568 shares of the company's stock worth $147,000 after buying an additional 10,613 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen raised Sonos from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Morgan Stanley set a $18.00 price objective on Sonos in a research note on Wednesday, February 4th. Zacks Research upgraded Sonos from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 9th. Jefferies Financial Group boosted their target price on shares of Sonos from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Sonos in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $20.00.

Insiders Place Their Bets

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 125,000 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were acquired at an average price of $13.57 per share, for a total transaction of $1,696,250.00. Following the completion of the purchase, the insider owned 18,070,762 shares of the company's stock, valued at approximately $245,220,240.34. The trade was a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 3,140,482 shares of company stock valued at $46,905,007 over the last three months. 1.25% of the stock is currently owned by company insiders.

Sonos Stock Performance

Shares of SONO stock opened at $13.58 on Monday. The business's fifty day simple moving average is $14.64 and its 200-day simple moving average is $16.22. The company has a market cap of $1.64 billion, a PE ratio of -79.88 and a beta of 1.99. Sonos, Inc. has a 12-month low of $7.63 and a 12-month high of $19.82.

Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.08. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The firm had revenue of $545.66 million during the quarter, compared to analysts' expectations of $536.93 million. During the same quarter last year, the firm earned $0.64 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos Company Profile

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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