Shell Asset Management Co. Acquires 5,074 Shares of Sonos, Inc. (NASDAQ:SONO)

Shell Asset Management Co. raised its holdings in shares of Sonos, Inc. (NASDAQ:SONOGet Rating) by 58.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,788 shares of the company’s stock after purchasing an additional 5,074 shares during the quarter. Shell Asset Management Co.’s holdings in Sonos were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SONO. National Bank of Canada FI purchased a new stake in shares of Sonos in the fourth quarter valued at $40,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sonos in the fourth quarter valued at $1,186,000. Commonwealth Equity Services LLC raised its stake in shares of Sonos by 1.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 91,893 shares of the company’s stock valued at $2,738,000 after acquiring an additional 1,023 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Sonos by 18.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 88,516 shares of the company’s stock valued at $2,638,000 after acquiring an additional 13,906 shares during the period. Finally, Centaurus Financial Inc. purchased a new stake in shares of Sonos in the fourth quarter valued at $108,000. Institutional investors own 91.37% of the company’s stock.

Insider Buying and Selling at Sonos

In other Sonos news, insider Matthew O. Siegel sold 202,945 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the transaction, the insider now owns 68,339 shares of the company’s stock, valued at approximately $1,315,525.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sonos news, insider Matthew O. Siegel sold 202,945 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $19.25, for a total transaction of $3,906,691.25. Following the transaction, the insider now owns 68,339 shares of the company’s stock, valued at approximately $1,315,525.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Spence sold 65,237 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $18.96, for a total transaction of $1,236,893.52. Following the completion of the sale, the chief executive officer now owns 727,690 shares in the company, valued at $13,797,002.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 270,897 shares of company stock valued at $5,201,921. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sonos Price Performance

SONO stock opened at $22.80 on Friday. The company has a market capitalization of $2.92 billion, a PE ratio of 23.27, a P/E/G ratio of 2.16 and a beta of 1.91. Sonos, Inc. has a 12 month low of $17.43 and a 12 month high of $42.57. The firm’s 50-day moving average is $20.42 and its 200 day moving average is $23.45.

Sonos (NASDAQ:SONOGet Rating) last posted its 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 business had revenue of $399.78 million for the quarter, compared to the consensus estimate 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 firm posted $0.31 EPS. Sell-side analysts forecast 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.

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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