Macquarie Group Ltd. lifted its holdings in shares of Sonos, Inc. (NASDAQ:SONO – Free Report) by 43.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,222 shares of the company’s stock after purchasing an additional 53,987 shares during the quarter. Macquarie Group Ltd. owned 0.14% of Sonos worth $3,477,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its stake 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 purchasing an additional 9,759,359 shares during the last quarter. Vanguard Group Inc. boosted its stake in Sonos by 16.6% in 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 in the last quarter. Thrivent Financial for Lutherans grew its position in Sonos by 3.0% during the first quarter. Thrivent Financial for Lutherans now owns 5,615,120 shares of the company’s stock valued at $110,169,000 after acquiring an additional 162,684 shares during the last quarter. Trigran Investments Inc. lifted its holdings in shares of Sonos by 4.8% in the 1st quarter. Trigran Investments Inc. now owns 5,400,982 shares of the company’s stock worth $105,967,000 after acquiring an additional 246,691 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Sonos by 1.6% in the 1st quarter. State Street Corp now owns 4,735,902 shares of the company’s stock valued at $92,918,000 after purchasing an additional 76,499 shares in the last quarter. 84.26% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on SONO. DA Davidson boosted their price target on shares of Sonos from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Bank of America dropped their target price on Sonos from $23.70 to $20.00 in a report on Thursday, August 10th. Finally, Craig Hallum initiated coverage on Sonos in a research note on Friday, September 8th. They issued a “buy” rating and a $20.00 price target on the stock.
Insiders Place Their Bets
In related news, insider Maxime Bouvat-Merlin sold 7,496 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $14.08, for a total value of $105,543.68. Following the transaction, the insider now owns 21,681 shares in the company, valued at approximately $305,268.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 9,306 shares of company stock valued at $135,391. 3.13% of the stock is currently owned by corporate insiders.
Sonos Stock Up 1.1 %
SONO opened at $13.30 on Monday. Sonos, Inc. has a 52 week low of $12.92 and a 52 week high of $21.98. The stock has a market cap of $1.71 billion, a PE ratio of -38.00, a PEG ratio of 9.29 and a beta of 1.89. The business has a 50 day moving average of $15.11 and a 200-day moving average of $16.99.
Sonos (NASDAQ:SONO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.17. The company had revenue of $373.36 million during the quarter, compared to analysts’ expectations of $340.67 million. Sonos had a negative net margin of 2.59% and a negative return on equity of 2.77%. Equities analysts anticipate that Sonos, Inc. will post 0.37 EPS for the current year.
Sonos 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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