US Bancorp DE Sells 3,573 Shares of Sonos, Inc. (NASDAQ:SONO)

US Bancorp DE cut its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 7.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 41,569 shares of the company’s stock after selling 3,573 shares during the period. US Bancorp DE’s holdings in Sonos were worth $511,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SONO. Covestor Ltd lifted its stake in Sonos by 376.7% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock valued at $38,000 after acquiring an additional 1,571 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Sonos during the 2nd quarter valued at $46,000. Quest Partners LLC lifted its stake in Sonos by 138.8% during the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock valued at $72,000 after acquiring an additional 2,819 shares in the last quarter. nVerses Capital LLC bought a new position in Sonos during the 2nd quarter valued at $81,000. Finally, International Assets Investment Management LLC lifted its stake in Sonos by 927.0% during the 3rd quarter. International Assets Investment Management LLC now owns 7,497 shares of the company’s stock valued at $92,000 after acquiring an additional 6,767 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Shamayne Braman sold 6,438 shares of Sonos stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.56, for a total value of $74,423.28. Following the completion of the sale, the insider now owns 26,588 shares of the company’s stock, valued at approximately $307,357.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

SONO has been the topic of several recent analyst reports. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $25.00 to $11.00 in a research note on Thursday, September 26th. Craig Hallum cut Sonos from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $10.00 in a research note on Thursday, August 8th.

Sonos Price Performance

NASDAQ SONO opened at $14.34 on Tuesday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -101.64 and a beta of 2.04. Sonos, Inc. has a one year low of $10.23 and a one year high of $19.76. The business’s fifty day moving average is $12.37 and its 200-day moving average is $13.82.

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.