Y Intercept Hong Kong Ltd Purchases New Position in Sonos, Inc. (NASDAQ:SONO)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 25,701 shares of the company's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SONO. Headlands Technologies LLC bought a new position in shares of Sonos during the 4th quarter valued at approximately $84,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sonos during the 4th quarter valued at approximately $103,000. Centaurus Financial Inc. bought a new position in shares of Sonos during the 4th quarter valued at approximately $108,000. Captrust Financial Advisors bought a new position in shares of Sonos during the 4th quarter valued at approximately $162,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Sonos during the 4th quarter valued at approximately $196,000. Hedge funds and other institutional investors own 85.82% of the company's stock.

Sonos Price Performance

Shares of NASDAQ SONO traded down $0.45 during midday trading on Friday, reaching $10.36. 2,112,643 shares of the stock traded hands, compared to its average volume of 1,735,835. The stock has a market capitalization of $1.24 billion, a PE ratio of -17.56 and a beta of 2.04. Sonos, Inc. has a one year low of $7.63 and a one year high of $15.89. The company's 50 day moving average is $10.57 and its 200 day moving average is $11.09.

Insider Activity at Sonos

In related news, major shareholder Coliseum Capital Management, L purchased 675,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $11.25 per share, for a total transaction of $7,593,750.00. Following the acquisition, the insider owned 14,505,191 shares of the company's stock, valued at approximately $163,183,398.75. This represents a 4.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders purchased 2,387,103 shares of company stock worth $25,629,973. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Sonos from a "sell" rating to a "hold" rating in a research note on Saturday. Rosenblatt Securities dropped their price target on Sonos from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Jefferies Financial Group dropped their price target on Sonos from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Sonos presently has a consensus rating of "Hold" and a consensus price target of $12.25.

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.