Public Sector Pension Investment Board Grows Stock Position in Sonos, Inc. (NASDAQ:SONO)

Public Sector Pension Investment Board raised its holdings in Sonos, Inc. (NASDAQ:SONO) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,373 shares of the company’s stock after buying an additional 16,525 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.22% of Sonos worth $3,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC grew its position in Sonos by 2,222.0% during the second quarter. SG Americas Securities LLC now owns 172,549 shares of the company’s stock valued at $2,547,000 after acquiring an additional 165,118 shares during the period. Wellington Management Group LLP increased its position in Sonos by 8.1% during the 4th quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock worth $50,790,000 after purchasing an additional 221,875 shares in the last quarter. Tabor Asset Management LP purchased a new position in Sonos in the fourth quarter valued at approximately $2,257,000. Point72 Hong Kong Ltd acquired a new position in Sonos during the fourth quarter valued at approximately $9,677,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in Sonos during the first quarter worth approximately $1,402,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SONO shares. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $10.00 in a research note on Thursday, August 8th. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $25.00 to $11.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.25.

Sonos Trading Up 1.0 %

SONO opened at $12.15 on Friday. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $19.76. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -34.71 and a beta of 2.04. The company has a fifty day simple moving average of $12.25 and a 200 day simple moving average of $15.10.

Sonos (NASDAQ:SONO) last announced its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Sonos had a positive return on equity of 0.42% and a negative net margin of 1.04%. The company had revenue of $397.15 million during the quarter, compared to the consensus estimate of $391.23 million. During the same period last year, the firm earned $0.02 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Sonos, Inc. will post -0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sonos news, insider Christopher Scott Mason sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $14.45, for a total value of $144,500.00. Following the transaction, the insider now directly owns 122,009 shares of the company’s stock, valued at approximately $1,763,030.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Christopher Scott Mason sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $14.45, for a total value of $144,500.00. Following the completion of the sale, the insider now owns 122,009 shares of the company’s stock, valued at approximately $1,763,030.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Millington sold 7,730 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $14.70, for a total transaction of $113,631.00. Following the transaction, the insider now directly owns 371,614 shares in the company, valued at approximately $5,462,725.80. The disclosure for this sale can be found here. Insiders have sold 25,073 shares of company stock worth $346,129 in the last three months. 3.30% of the stock is owned by insiders.

Sonos Company Profile

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.