81,391 Shares in Sonos, Inc. (NASDAQ:SONO) Acquired by Duality Advisers LP

Duality Advisers LP acquired a new stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 81,391 shares of the company's stock, valued at approximately $1,395,000. Duality Advisers LP owned approximately 0.07% of Sonos as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Ieq Capital LLC bought a new position in shares of Sonos in the 3rd quarter valued at about $132,000. Orion Portfolio Solutions LLC lifted its holdings in shares of Sonos by 16.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company's stock valued at $160,000 after acquiring an additional 1,755 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Sonos in the 3rd quarter valued at about $173,000. Fox Run Management L.L.C. bought a new position in shares of Sonos in the 3rd quarter valued at about $176,000. Finally, Algert Global LLC bought a new stake in Sonos in the third quarter worth about $186,000. Hedge funds and other institutional investors own 85.82% of the company's stock.

Sonos Trading Down 2.1 %

Shares of Sonos stock traded down $0.37 on Wednesday, hitting $17.34. 1,081,831 shares of the company traded hands, compared to its average volume of 1,977,533. The stock's 50 day moving average price is $18.45 and its 200-day moving average price is $16.01. Sonos, Inc. has a 52 week low of $9.78 and a 52 week high of $21.98. The company has a market cap of $2.15 billion, a PE ratio of -577.81 and a beta of 1.99.

Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.22. The firm had revenue of $612.87 million during the quarter, compared to the consensus estimate of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. As a group, research analysts anticipate that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Sonos

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

Wall Street Analysts Forecast Growth

SONO has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Sonos from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 7th. TheStreet raised shares of Sonos from a "d+" rating to a "c-" rating in a research note on Wednesday, February 14th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $24.00 price objective on shares of Sonos in a research note on Monday, March 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

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.