Zurcher Kantonalbank Zurich Cantonalbank Has $419,000 Holdings in Sonos, Inc. (NASDAQ:SONO)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 69.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,429 shares of the company's stock after selling 55,868 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Sonos were worth $419,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. WNY Asset Management LLC raised its holdings in shares of Sonos by 6.3% during the 3rd quarter. WNY Asset Management LLC now owns 19,265 shares of the company's stock valued at $249,000 after purchasing an additional 1,150 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Sonos by 16.5% in the third quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company's stock worth $160,000 after buying an additional 1,755 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Sonos by 4.4% during the 3rd quarter. HighTower Advisors LLC now owns 44,149 shares of the company's stock worth $573,000 after acquiring an additional 1,857 shares in the last quarter. Swiss National Bank raised its stake in shares of Sonos by 1.7% in the 3rd quarter. Swiss National Bank now owns 268,000 shares of the company's stock valued at $3,460,000 after acquiring an additional 4,600 shares in the last quarter. Finally, EFG Asset Management North America Corp. lifted its holdings in Sonos by 13.3% in the 3rd quarter. EFG Asset Management North America Corp. now owns 52,948 shares of the company's stock worth $683,000 after purchasing an additional 6,203 shares during the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sonos news, Director Thomas Conrad sold 5,337 shares of the company's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total value of $97,720.47. Following the sale, the director now directly owns 37,334 shares in the company, valued at $683,585.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of the business's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas Conrad sold 5,337 shares of the company's 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 sale, the director now directly owns 37,334 shares in the company, valued at $683,585.54. The disclosure for this sale can be found here. Insiders sold a total of 27,147 shares of company stock worth $484,972 over the last quarter. Company insiders own 3.30% of the company's stock.

Analysts Set New Price Targets

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

Sonos Stock Performance

Shares of SONO traded up $0.11 during trading hours on Friday, reaching $17.05. 1,022,355 shares of the company traded hands, compared to its average volume of 1,218,485. Sonos, Inc. has a 1-year low of $9.78 and a 1-year high of $21.98. The stock has a market cap of $2.11 billion, a P/E ratio of -568.14 and a beta of 2.00. The stock's fifty day moving average is $18.23 and its 200 day moving average is $16.28.

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