434,818 Shares in Sonos, Inc. (NASDAQ:SONO) Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 434,818 shares of the company's stock, valued at approximately $7,453,000. NewEdge Wealth LLC owned 0.35% of Sonos as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of Sonos by 74.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company's stock valued at $25,000 after purchasing an additional 777 shares in the last quarter. State of Wyoming bought a new stake in shares of Sonos during the second quarter valued at about $31,000. First Manhattan Co. bought a new stake in shares of Sonos during the first quarter valued at about $36,000. Pacific Center for Financial Services bought a new stake in Sonos in the first quarter worth about $39,000. Finally, Money Concepts Capital Corp raised its position in Sonos by 3,649.3% in the fourth quarter. Money Concepts Capital Corp now owns 2,812 shares of the company's stock worth $48,000 after acquiring an additional 2,737 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. TheStreet upgraded shares of Sonos from a "d+" rating to a "c-" rating in a research report on Wednesday, February 14th. Rosenblatt Securities reiterated a "buy" rating and issued a $24.00 price target on shares of Sonos in a research report on Monday, March 25th. Finally, Morgan Stanley boosted their price target on shares of Sonos from $20.00 to $25.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Insider Buying and Selling

In other Sonos news, Director Thomas Conrad sold 5,337 shares of Sonos stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total transaction of $97,720.47. Following the transaction, the director now owns 37,334 shares of the company's stock, valued at approximately $683,585.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of Sonos stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the transaction, the insider now owns 119,179 shares of the company's stock, valued at approximately $2,099,933.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Conrad sold 5,337 shares of Sonos stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total value of $97,720.47. Following the transaction, the director now directly owns 37,334 shares in the company, valued at approximately $683,585.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,147 shares of company stock valued at $484,972. 3.30% of the stock is owned by corporate insiders.

Sonos Stock Performance

SONO traded down $0.32 during trading on Friday, reaching $17.48. The company had a trading volume of 1,151,381 shares, compared to its average volume of 1,850,154. The firm's 50-day simple moving average is $18.58 and its 200 day simple moving average is $15.77. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -582.47 and a beta of 1.99. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $21.98.

Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.22. The firm had revenue of $612.87 million for the quarter, compared to analysts' expectations of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. On average, sell-side analysts expect that Sonos, Inc. will post 0.31 EPS for the current year.

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.