37,657 Shares in Sonos, Inc. (NASDAQ:SONO) Acquired by Diversified Trust Co

Diversified Trust Co bought a new stake in shares of Sonos, Inc. (NASDAQ:SONO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 37,657 shares of the company’s stock, valued at approximately $718,000.

Several other hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Sonos by 8.1% during the 4th quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock valued at $50,790,000 after buying an additional 221,875 shares in the last quarter. Tabor Asset Management LP bought a new position in shares of Sonos during the 4th quarter valued at about $2,257,000. NewEdge Wealth LLC purchased a new position in shares of Sonos during the 4th quarter valued at about $7,453,000. Point72 Hong Kong Ltd purchased a new stake in Sonos in the fourth quarter worth approximately $9,677,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Sonos during the fourth quarter valued at approximately $1,546,000. 85.82% of the stock is currently owned by institutional investors.

Sonos Trading Down 1.1 %

Shares of SONO stock opened at $14.26 on Wednesday. Sonos, Inc. has a fifty-two week low of $9.78 and a fifty-two week high of $19.76. The stock has a 50 day moving average price of $16.06 and a two-hundred day moving average price of $17.11.

Sonos (NASDAQ:SONO) last issued its earnings results on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.08). The firm had revenue of $252.66 million during the quarter, compared to analysts’ expectations of $246.48 million. Sonos had a negative return on equity of 0.44% and a negative net margin of 2.82%. On average, analysts predict that Sonos, Inc. will post 0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities restated a “buy” rating and issued a $24.00 price objective on shares of Sonos in a report on Monday, March 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Insider Activity

In related news, insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $17.57, for a total value of $351,400.00. Following the sale, the insider now directly owns 122,009 shares of the company’s stock, valued at $2,143,698.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christopher Scott Mason sold 20,000 shares of Sonos stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $17.57, for a total value of $351,400.00. Following the sale, the insider now owns 122,009 shares in the company, valued at $2,143,698.13. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Maxime Bouvat-Merlin sold 40,222 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $16.54, for a total transaction of $665,271.88. Following the transaction, the insider now directly owns 24,650 shares in the company, valued at $407,711. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,762 shares of company stock valued at $1,824,436. Insiders own 3.30% of the company’s stock.

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.