Shell Asset Management Co. Purchases 5,672 Shares of Sonos, Inc. (NASDAQ:SONO)

Shell Asset Management Co. increased its position in shares of Sonos, Inc. (NASDAQ:SONOGet Rating) by 41.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,460 shares of the company’s stock after acquiring an additional 5,672 shares during the quarter. Shell Asset Management Co.’s holdings in Sonos were worth $351,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SONO. Kestra Advisory Services LLC grew its position in Sonos by 20.1% during the 1st quarter. Kestra Advisory Services LLC now owns 15,785 shares of the company’s stock worth $445,000 after purchasing an additional 2,643 shares during the last quarter. Comerica Bank purchased a new stake in Sonos during the 1st quarter worth approximately $2,631,000. FourThought Financial LLC purchased a new stake in Sonos during the 1st quarter worth approximately $37,000. Jackson Creek Investment Advisors LLC grew its position in Sonos by 5.2% during the 1st quarter. Jackson Creek Investment Advisors LLC now owns 29,863 shares of the company’s stock worth $843,000 after purchasing an additional 1,469 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Sonos by 7.6% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 95,258 shares of the company’s stock worth $2,688,000 after purchasing an additional 6,742 shares during the last quarter. Institutional investors own 90.91% of the company’s stock.

Sonos Trading Up 3.0 %

Sonos stock opened at $17.35 on Friday. Sonos, Inc. has a 12-month low of $13.65 and a 12-month high of $34.70. The stock has a market cap of $2.21 billion, a P/E ratio of 40.35, a PEG ratio of 3.15 and a beta of 1.92. The company has a 50-day moving average price of $15.19 and a 200 day moving average price of $18.13.

Analysts Set New Price Targets

SONO has been the topic of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Sonos from $24.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, August 11th. DA Davidson dropped their price objective on shares of Sonos to $29.00 in a report on Monday, August 15th. Finally, Morgan Stanley dropped their price objective on shares of Sonos from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, October 17th.

About Sonos

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Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

See Also

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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