Russell Investments Group Ltd. reduced its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 32.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 336,623 shares of the company's stock after selling 158,696 shares during the period. Russell Investments Group Ltd. owned about 0.27% of Sonos worth $5,770,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Sonos in the 4th quarter worth $35,000. Ieq Capital LLC bought a new stake in shares of Sonos during the third quarter valued at approximately $132,000. Orion Portfolio Solutions LLC boosted its position in shares of Sonos by 16.5% during the third quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company's stock valued at $160,000 after buying an additional 1,755 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Sonos during the third quarter valued at approximately $176,000. Finally, Cerity Partners LLC bought a new position in Sonos in the fourth quarter valued at about $239,000. 85.82% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Christopher Scott Mason sold 20,000 shares of the firm's 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 sale, the insider now owns 119,179 shares of the company's stock, valued at $2,099,933.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 22,715 shares of company stock worth $402,845. 3.30% of the stock is currently owned by corporate insiders.
Sonos Trading Down 3.6 %
Shares of Sonos stock traded down $0.62 on Friday, hitting $16.63. 1,587,817 shares of the company traded hands, compared to its average volume of 1,937,292. Sonos, Inc. has a 52 week low of $9.78 and a 52 week high of $19.76. The company has a market cap of $2.06 billion, a PE ratio of -554.33 and a beta of 2.00. The stock's 50 day moving average price is $18.06 and its 200-day moving average price is $16.45.
Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings data 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. 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 the consensus estimate of $588.96 million. As a group, research analysts anticipate that Sonos, Inc. will post 0.31 EPS for the current fiscal year.
Analyst Ratings Changes
SONO has been the subject of a number of recent research reports. TheStreet raised shares of Sonos from a "d+" rating to a "c-" rating in a research report on Wednesday, February 14th. Morgan Stanley boosted 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. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $24.00 price target on shares of Sonos in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.00.
Read Our Latest Report on SONO
About Sonos
(
Free Report)
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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