Wellington Management Group LLP Has $12.80 Million Stock Holdings in Sonos, Inc. $SONO

Key Points

• Wellington Management Group LLP significantly reduced its stake in Sonos, Inc. by 67.2%, now holding approximately 1.01% of the company's shares valued at $12.8 million after selling over 2.4 million shares.
• Despite Wellington's sell-off, other investors like Coliseum Capital Management and Trigran Investments increased their positions in Sonos, signaling varied confidence among institutional investors.
• Sonos reported revenue of $344.76 million for the quarter, missing earnings expectations and exhibiting a year-over-year revenue decline of 13.2%.

Wellington Management Group LLP decreased its position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 67.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,199,112 shares of the company's stock after selling 2,454,962 shares during the period. Wellington Management Group LLP owned 1.01% of Sonos worth $12,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Coliseum Capital Management LLC lifted its position in Sonos by 50.3% during the 4th quarter. Coliseum Capital Management LLC now owns 10,734,013 shares of the company's stock worth $161,440,000 after acquiring an additional 3,590,782 shares during the last quarter. Trigran Investments Inc. raised its position in shares of Sonos by 24.0% during the first quarter. Trigran Investments Inc. now owns 5,248,935 shares of the company's stock valued at $56,006,000 after buying an additional 1,017,223 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Sonos by 14.7% during 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 last quarter. Dimensional Fund Advisors LP raised its position in shares of Sonos by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,687,007 shares of the company's stock valued at $40,413,000 after buying an additional 148,608 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Sonos by 2.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,738,910 shares of the company's stock valued at $18,554,000 after buying an additional 40,539 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SONO. Wall Street Zen raised shares of Sonos from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $17.00 price objective on shares of Sonos in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $13.67.

Insider Buying and Selling at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $11.21 per share, for a total transaction of $616,550.00. Following the purchase, the insider owned 14,930,280 shares of the company's stock, valued at approximately $167,368,438.80. This represents a 0.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julius Genachowski purchased 22,850 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $10.95 per share, for a total transaction of $250,207.50. Following the completion of the purchase, the director directly owned 124,396 shares in the company, valued at approximately $1,362,136.20. The trade was a 22.50% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,950,069 shares of company stock valued at $31,713,016 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Sonos Stock Down 0.6%

SONO stock traded down $0.09 during midday trading on Monday, reaching $13.92. The company's stock had a trading volume of 1,297,641 shares, compared to its average volume of 2,493,608. Sonos, Inc. has a 52 week low of $7.63 and a 52 week high of $15.89. The stock has a market cap of $1.68 billion, a PE ratio of -21.42 and a beta of 2.17. The business's 50-day simple moving average is $11.57 and its 200-day simple moving average is $10.87.

Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business had revenue of $344.76 million during the quarter, compared to the consensus estimate of $324.66 million. Sonos had a negative net margin of 5.41% and a negative return on equity of 18.19%. Sonos's revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, equities analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

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.