Steward Partners Investment Advisory LLC Has $52,000 Holdings in Sonos, Inc. (NASDAQ:SONO)

Steward Partners Investment Advisory LLC lessened its stake in Sonos, Inc. (NASDAQ:SONOGet Rating) by 32.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,838 shares of the company’s stock after selling 887 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Sonos were worth $52,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SONO. Allworth Financial LP boosted its holdings in shares of Sonos by 71.7% in the first quarter. Allworth Financial LP now owns 1,099 shares of the company’s stock valued at $31,000 after buying an additional 459 shares during the period. KRS Capital Management LLC acquired a new position in shares of Sonos in the fourth quarter valued at approximately $35,000. FourThought Financial LLC acquired a new position in shares of Sonos in the first quarter valued at approximately $37,000. National Bank of Canada FI acquired a new position in shares of Sonos in the fourth quarter valued at approximately $40,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Sonos by 255.1% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,088 shares of the company’s stock valued at $62,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 91.37% of the company’s stock.

Insider Buying and Selling at Sonos

In other news, insider Matthew O. Siegel sold 202,945 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total value of $3,906,691.25. Following the transaction, the insider now directly owns 68,339 shares of the company’s stock, valued at $1,315,525.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick Spence sold 65,237 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $18.96, for a total value of $1,236,893.52. Following the transaction, the chief executive officer now directly owns 727,690 shares of the company’s stock, valued at $13,797,002.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew O. Siegel sold 202,945 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the transaction, the insider now directly owns 68,339 shares in the company, valued at $1,315,525.75. The disclosure for this sale can be found here. Insiders sold a total of 269,992 shares of company stock worth $5,182,219 over the last quarter. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. DA Davidson reduced their target price on shares of Sonos from $49.00 to $40.00 in a report on Thursday, May 12th. Morgan Stanley cut shares of Sonos from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $38.00 to $28.00 in a report on Tuesday, June 14th. Jefferies Financial Group reduced their target price on shares of Sonos from $45.00 to $35.00 in a report on Tuesday, May 31st. Finally, TheStreet cut shares of Sonos from a “b-” rating to a “c” rating in a report on Wednesday, May 11th.

Sonos Price Performance

Shares of SONO stock opened at $22.57 on Thursday. The stock has a market cap of $2.89 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.19 and a beta of 1.91. The company has a fifty day moving average price of $20.38 and a two-hundred day moving average price of $23.45. Sonos, Inc. has a one year low of $17.43 and a one year high of $42.57.

Sonos (NASDAQ:SONOGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $399.78 million during the quarter, compared to analysts’ expectations of $361.40 million. Sonos had a net margin of 7.83% and a return on equity of 32.39%. During the same quarter last year, the company posted $0.31 earnings per share. As a group, equities research analysts anticipate that Sonos, Inc. will post 1.09 EPS for the current fiscal year.

About Sonos

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Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

Further Reading

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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