Sonos, Inc. (NASDAQ:SONO) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in Sonos, Inc. (NASDAQ:SONO) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,757 shares of the company’s stock after buying an additional 7,795 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of Sonos worth $1,026,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SONO. Norges Bank acquired a new position in shares of Sonos in the 4th quarter worth approximately $13,594,000. Point72 Hong Kong Ltd acquired a new position in Sonos during the fourth quarter worth $9,677,000. Victory Capital Management Inc. boosted its position in shares of Sonos by 21.9% during the second quarter. Victory Capital Management Inc. now owns 1,842,770 shares of the company’s stock worth $27,199,000 after buying an additional 331,293 shares during the period. Renaissance Technologies LLC grew its stake in shares of Sonos by 1,725.4% in the second quarter. Renaissance Technologies LLC now owns 337,700 shares of the company’s stock valued at $4,984,000 after buying an additional 319,200 shares in the last quarter. Finally, F M Investments LLC purchased a new stake in shares of Sonos in the 2nd quarter valued at $4,218,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, insider Shamayne Braman sold 6,438 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $11.56, for a total value 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sonos news, insider Shamayne Braman sold 6,438 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $11.56, for a total value of $74,423.28. Following the sale, the insider now directly owns 26,588 shares in the company, valued at $307,357.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Mason sold 10,000 shares of Sonos stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $14.45, for a total value of $144,500.00. Following the sale, the insider now directly owns 122,009 shares of the company’s stock, valued at $1,763,030.05. The disclosure for this sale can be found here. Insiders sold 25,073 shares of company stock worth $346,129 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Sonos Price Performance

SONO opened at $12.15 on Friday. The business has a fifty day moving average price of $12.22 and a 200 day moving average price of $15.06. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $19.76. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -34.71 and a beta of 2.04.

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

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.