BNP Paribas Financial Markets Lowers Position in Sonos, Inc. (NASDAQ:SONO)

BNP Paribas Financial Markets trimmed its position in Sonos, Inc. (NASDAQ:SONO) by 16.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,839 shares of the company’s stock after selling 43,936 shares during the period. BNP Paribas Financial Markets owned 0.18% of Sonos worth $3,888,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SONO. Trigran Investments Inc. grew its position in shares of Sonos by 7.0% in the 3rd quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock worth $86,477,000 after buying an additional 436,696 shares during the period. Hawk Ridge Capital Management LP boosted its stake in Sonos by 382.6% during the third quarter. Hawk Ridge Capital Management LP now owns 4,097,212 shares of the company’s stock worth $52,895,000 after acquiring an additional 3,248,148 shares in the last quarter. Wellington Management Group LLP boosted its stake in Sonos by 26.7% during the third quarter. Wellington Management Group LLP now owns 2,741,356 shares of the company’s stock worth $35,391,000 after acquiring an additional 576,939 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Sonos by 11.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,680,619 shares of the company’s stock worth $34,607,000 after purchasing an additional 278,129 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sonos by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,395,888 shares of the company’s stock valued at $23,926,000 after purchasing an additional 83,110 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

SONO has been the topic of several recent research reports. Morgan Stanley upped their price target on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. TheStreet raised Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $24.00 price target on shares of Sonos in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Sonos Trading Down 0.3 %

Shares of SONO opened at $16.38 on Wednesday. The business’s fifty day simple moving average is $17.78 and its two-hundred day simple moving average is $16.85. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $19.76.

Insider Activity

In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. Following the completion of the transaction, the insider now owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 42,715 shares of company stock valued at $754,245 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

About Sonos

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.