XTX Topco Ltd Invests $338,000 in Sonos, Inc. (NASDAQ:SONO)

Key Points

• XTX Topco Ltd has invested approximately $338,000 in Sonos, Inc., acquiring 31,673 shares during the 1st quarter.
• Sonos reported a quarterly revenue of $344.76 million, exceeding analysts' expectations, but had a negative earnings per share of ($0.03).
• Several analysts upgraded their ratings on Sonos, with Rosenblatt Securities raising the target price from $15.00 to $17.00 and changing the rating to "buy."

XTX Topco Ltd acquired a new position in Sonos, Inc. (NASDAQ:SONO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,673 shares of the company's stock, valued at approximately $338,000.

Several other institutional investors have also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sonos in the 4th quarter worth approximately $103,000. Centaurus Financial Inc. purchased a new stake in Sonos in the 4th quarter worth approximately $108,000. Captrust Financial Advisors purchased a new stake in Sonos in the 4th quarter worth approximately $162,000. Occudo Quantitative Strategies LP purchased a new stake in Sonos in the 4th quarter worth approximately $196,000. Finally, Allianz Asset Management GmbH increased its holdings in Sonos by 43.2% in the 1st quarter. Allianz Asset Management GmbH now owns 18,900 shares of the company's stock worth $202,000 after acquiring an additional 5,700 shares in the last quarter. Institutional investors own 85.82% of the company's stock.

Sonos Price Performance

Shares of SONO opened at $11.33 on Friday. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $15.89. The company has a 50 day simple moving average of $10.64 and a two-hundred day simple moving average of $10.96. The firm has a market cap of $1.37 billion, a P/E ratio of -17.43 and a beta of 2.04.

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). Sonos had a negative net margin of 5.41% and a negative return on equity of 18.19%. The company had revenue of $344.76 million for the quarter, compared to analysts' expectations of $324.66 million. During the same period last year, the business earned $0.03 earnings per share. The company's quarterly revenue was down 13.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Sonos from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Rosenblatt Securities increased their target price on shares of Sonos from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday.

Insider Transactions at Sonos

In other news, major shareholder Coliseum Capital Management, L bought 160,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average cost of $10.83 per share, for a total transaction of $1,732,800.00. Following the transaction, the insider owned 14,747,874 shares of the company's stock, valued at $159,719,475.42. The trade was a 1.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 2,629,786 shares of company stock worth $28,221,317. Company insiders own 1.80% of the company's stock.

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.

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