Victory Capital Management Inc. Has $1.08 Million Stake in Sonos, Inc. (NASDAQ:SONO)

Victory Capital Management Inc. boosted its holdings in Sonos, Inc. (NASDAQ:SONO - Free Report) by 40.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,418 shares of the company's stock after buying an additional 29,343 shares during the period. Victory Capital Management Inc. owned approximately 0.09% of Sonos worth $1,082,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SONO. Coliseum Capital Management LLC lifted its holdings in Sonos by 50.3% in the fourth quarter. Coliseum Capital Management LLC now owns 10,734,013 shares of the company's stock valued at $161,440,000 after buying an additional 3,590,782 shares during the period. Freestone Grove Partners LP acquired a new position in Sonos in the fourth quarter valued at approximately $18,125,000. Point72 Asset Management L.P. acquired a new position in Sonos in the fourth quarter valued at approximately $13,057,000. Jacobs Levy Equity Management Inc. lifted its holdings in Sonos by 14.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,187,522 shares of the company's stock valued at $47,940,000 after buying an additional 408,479 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Sonos by 10.6% in the fourth quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company's stock valued at $54,957,000 after buying an additional 351,057 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L bought 675,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $11.25 per share, for a total transaction of $7,593,750.00. Following the completion of the acquisition, the insider owned 14,505,191 shares in the company, valued at approximately $163,183,398.75. This trade represents a 4.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 2,387,103 shares of company stock valued at $25,629,973 in the last quarter. Company insiders own 1.80% of the company's stock.

Sonos Price Performance

SONO traded down $0.45 during mid-day trading on Friday, hitting $10.36. The stock had a trading volume of 2,112,643 shares, compared to its average volume of 1,735,835. The stock's fifty day simple moving average is $10.55 and its 200-day simple moving average is $11.11. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -17.56 and a beta of 2.04. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $15.89.

Analyst Ratings Changes

Several equities analysts recently weighed in on SONO shares. Rosenblatt Securities cut their price objective on shares of Sonos from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Wall Street Zen lowered shares of Sonos from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Jefferies Financial Group cut their target price on shares of Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.25.

About Sonos

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.