First Eagle Investment Management LLC Boosts Stake in Sonos, Inc. (NASDAQ:SONO)

First Eagle Investment Management LLC lifted its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 357,685 shares of the company’s stock after acquiring an additional 2,750 shares during the quarter. First Eagle Investment Management LLC’s holdings in Sonos were worth $5,279,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Sonos by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock valued at $271,627,000 after purchasing an additional 163,736 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Sonos by 8.1% during the fourth quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock worth $50,790,000 after buying an additional 221,875 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Sonos by 10.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,890,787 shares of the company’s stock worth $55,098,000 after buying an additional 266,748 shares during the last quarter. American Century Companies Inc. raised its holdings in Sonos by 8.6% in the second quarter. American Century Companies Inc. now owns 2,689,118 shares of the company’s stock valued at $39,691,000 after acquiring an additional 212,610 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Sonos by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,659,127 shares of the company’s stock worth $39,248,000 after purchasing an additional 241,700 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Buying and Selling at Sonos

In other news, insider Shamayne Braman sold 6,438 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $11.56, for a total transaction of $74,423.28. Following the sale, the insider now directly owns 26,588 shares in the company, valued at approximately $307,357.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Shamayne Braman sold 6,438 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $11.56, for a total transaction of $74,423.28. Following the completion of the transaction, the insider now directly owns 26,588 shares in the company, valued at approximately $307,357.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicholas Millington sold 7,730 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $14.70, for a total value of $113,631.00. Following the completion of the sale, the insider now directly owns 371,614 shares in the company, valued at $5,462,725.80. The disclosure for this sale can be found here. Insiders sold a total of 25,073 shares of company stock worth $346,129 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Sonos Price Performance

Shares of SONO opened at $12.64 on Friday. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $19.76. The business’s fifty day moving average price is $12.39 and its 200 day moving average price is $15.28. The stock has a market capitalization of $1.55 billion, a PE ratio of -36.11 and a beta of 2.04.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. Sonos had a negative net margin of 1.04% and a positive return on equity of 0.42%. The company had revenue of $397.15 million for the quarter, compared to the consensus estimate of $391.23 million. During the same period last year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that Sonos, Inc. will post 0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Craig Hallum cut shares of Sonos from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $10.00 in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

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.