Daiwa Securities Group Inc. Takes $442,000 Position in Sonos, Inc. (NASDAQ:SONO)

Daiwa Securities Group Inc. bought a new stake in shares of Sonos, Inc. (NASDAQ:SONO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,200 shares of the company’s stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SONO. Wellington Management Group LLP grew its position in shares of Sonos by 26.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,741,356 shares of the company’s stock valued at $35,391,000 after acquiring an additional 576,939 shares during the period. WNY Asset Management LLC increased its position in Sonos by 6.3% in the third quarter. WNY Asset Management LLC now owns 19,265 shares of the company’s stock worth $249,000 after buying an additional 1,150 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Sonos by 71.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 22,955 shares of the company’s stock worth $393,000 after buying an additional 9,529 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Sonos by 36.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 36,098 shares of the company’s stock valued at $619,000 after buying an additional 9,701 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Sonos by 111.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 27,877 shares of the company’s stock valued at $478,000 after acquiring an additional 14,680 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities restated a “buy” rating and set a $24.00 target price on shares of Sonos in a research note on Monday, March 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Sonos has an average rating of “Moderate Buy” and an average price target of $21.00.

Sonos Stock Up 3.5 %

NASDAQ SONO opened at $14.96 on Friday. The business has a 50-day moving average price of $15.71 and a 200-day moving average price of $16.99. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $19.76.

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

Insider Transactions at Sonos

In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of Sonos stock in a transaction that occurred on 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 owns 122,009 shares of the company’s stock, valued at approximately $2,143,698.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $17.57, for a total value of $351,400.00. Following the completion of the transaction, the insider now owns 122,009 shares of the company’s stock, valued at approximately $2,143,698.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Maxime Bouvat-Merlin sold 40,222 shares of Sonos stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $16.54, for a total value of $665,271.88. Following the completion of the transaction, the insider now owns 24,650 shares of the company’s stock, valued at approximately $407,711. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,857 shares of company stock valued at $1,454,696. 3.30% of the stock is currently owned by 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.