Barclays PLC Grows Position in Sonos, Inc. (NASDAQ:SONO)

Barclays PLC grew its holdings in Sonos, Inc. (NASDAQ:SONOFree Report) by 7.1% during the third quarter, HoldingsChannel reports. The fund owned 314,891 shares of the company’s stock after purchasing an additional 20,902 shares during the period. Barclays PLC’s holdings in Sonos were worth $4,065,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SONO. BlackRock Inc. increased its holdings in shares of Sonos by 77.4% in the 1st quarter. BlackRock Inc. now owns 22,364,298 shares of the company’s stock valued at $631,123,000 after acquiring an additional 9,759,359 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Sonos by 938.3% in the 4th quarter. Millennium Management LLC now owns 2,728,942 shares of the company’s stock valued at $46,119,000 after acquiring an additional 2,466,107 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Sonos by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 13,604,113 shares of the company’s stock valued at $383,908,000 after acquiring an additional 1,933,485 shares during the last quarter. State Street Corp increased its holdings in shares of Sonos by 76.7% in the 1st quarter. State Street Corp now owns 4,176,588 shares of the company’s stock valued at $117,863,000 after acquiring an additional 1,812,340 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Sonos in the 4th quarter valued at about $19,798,000. Hedge funds and other institutional investors own 84.26% of the company’s stock.

Sonos Trading Up 0.6 %

Shares of SONO stock opened at $18.30 on Friday. The business’s 50 day moving average is $16.60 and its two-hundred day moving average is $14.38. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $21.98. The company has a market capitalization of $2.27 billion, a P/E ratio of -610.00, a price-to-earnings-growth ratio of 10.13 and a beta of 1.94.

Sonos (NASDAQ:SONOGet Free Report) last announced its earnings results on Wednesday, November 15th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. The company had revenue of $305.15 million during the quarter, compared to analysts’ expectations of $305.79 million. As a group, equities analysts predict that Sonos, Inc. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SONO shares. Bank of America downgraded Sonos from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $12.00 in a research note on Tuesday, November 7th. Rosenblatt Securities raised their price target on Sonos from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley raised their price target on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Get Our Latest Research Report on SONO

Insider Buying and Selling at Sonos

In other Sonos news, insider Maxime Bouvat-Merlin sold 6,917 shares of Sonos stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $11.27, for a total value of $77,954.59. Following the transaction, the insider now directly owns 24,138 shares in the company, valued at approximately $272,035.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Thomas Conrad sold 5,337 shares of the firm’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 of the company’s stock, valued at approximately $683,585.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maxime Bouvat-Merlin sold 6,917 shares of the firm’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 directly owns 24,138 shares of the company’s stock, valued at $272,035.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,064 shares of company stock worth $204,599. 3.30% of the stock is currently owned by insiders.

Sonos Company 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.

Further Reading

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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