Quantbot Technologies LP Invests $265,000 in Sonos, Inc. (NASDAQ:SONO)

Quantbot Technologies LP bought a new stake in Sonos, Inc. (NASDAQ:SONOFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,545 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Barclays PLC increased its position in shares of Sonos by 7.1% in the third quarter. Barclays PLC now owns 314,891 shares of the company’s stock valued at $4,065,000 after acquiring an additional 20,902 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Sonos in the third quarter valued at about $176,000. Jump Financial LLC increased its position in shares of Sonos by 955.5% in the third quarter. Jump Financial LLC now owns 223,905 shares of the company’s stock valued at $2,891,000 after acquiring an additional 202,691 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Sonos in the third quarter valued at about $977,000. Finally, Victory Capital Management Inc. increased its position in Sonos by 6.7% during the third quarter. Victory Capital Management Inc. now owns 412,790 shares of the company’s stock worth $5,329,000 after buying an additional 25,748 shares during the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.

Sonos Stock Up 0.6 %

Shares of NASDAQ:SONO opened at $18.30 on Friday. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $21.98. The stock has a market cap of $2.27 billion, a PE ratio of -609.80, a P/E/G ratio of 21.15 and a beta of 1.94. The business has a 50 day moving average of $16.60 and a 200-day moving average of $14.40.

Sonos (NASDAQ:SONOGet Free Report) last issued its quarterly earnings data on Wednesday, November 15th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. The firm had revenue of $305.15 million for the quarter, compared to the consensus estimate of $305.79 million. Equities research analysts expect that Sonos, Inc. will post 0.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SONO shares. Bank of America downgraded Sonos from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $12.00 in a research report on Tuesday, November 7th. Rosenblatt Securities boosted their price target on Sonos from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Sonos currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

View Our Latest Stock Report on SONO

Insider Transactions at Sonos

In related news, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 37,334 shares in the company, valued at $683,585.54. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 37,334 shares in the company, valued at $683,585.54. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Maxime Bouvat-Merlin sold 6,917 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $11.27, for a total value of $77,954.59. Following the completion of the sale, the insider now owns 24,138 shares of the company’s stock, valued at $272,035.26. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock worth $204,599 over the last quarter. Company insiders own 3.30% of the company’s stock.

Sonos Profile

(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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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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