Rhumbline Advisers increased its stake in shares of Sonos, Inc. (NASDAQ:SONO – Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 396,782 shares of the company’s stock after acquiring an additional 13,135 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Sonos worth $7,785,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its holdings in Sonos by 77.4% during the first quarter. BlackRock Inc. now owns 22,364,298 shares of the company’s stock worth $631,123,000 after buying an additional 9,759,359 shares during the last quarter. Vanguard Group Inc. raised its holdings in Sonos by 16.6% during the first quarter. Vanguard Group Inc. now owns 13,604,113 shares of the company’s stock worth $383,908,000 after buying an additional 1,933,485 shares during the last quarter. State Street Corp raised its holdings in Sonos by 0.4% during the third quarter. State Street Corp now owns 4,319,400 shares of the company’s stock worth $60,040,000 after buying an additional 15,890 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Sonos by 8.4% during the fourth quarter. JPMorgan Chase & Co. now owns 3,631,867 shares of the company’s stock worth $61,378,000 after buying an additional 280,237 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Sonos by 938.3% during the fourth quarter. Millennium Management LLC now owns 2,728,942 shares of the company’s stock worth $46,119,000 after buying an additional 2,466,107 shares during the last quarter. 84.26% of the stock is owned by institutional investors.
Sonos Price Performance
Shares of SONO stock opened at $13.50 on Wednesday. The firm has a 50-day moving average of $15.56 and a 200-day moving average of $17.36. The company has a market cap of $1.73 billion, a P/E ratio of -38.57, a P/E/G ratio of 9.58 and a beta of 1.89. Sonos, Inc. has a one year low of $13.29 and a one year high of $21.98.
Analyst Ratings Changes
Several analysts have recently commented on SONO shares. DA Davidson increased their target price on shares of Sonos from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Bank of America lowered their target price on shares of Sonos from $23.70 to $20.00 in a report on Thursday, August 10th.
Read Our Latest Report on SONO
Insider Activity at Sonos
In other Sonos news, insider Maxime Bouvat-Merlin sold 7,496 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $14.08, for a total transaction of $105,543.68. Following the completion of the transaction, the insider now owns 21,681 shares in the company, valued at $305,268.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 9,306 shares of company stock worth $135,391. 3.13% of the stock is owned by company insiders.
Sonos Company Profile
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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