MetLife Investment Management LLC Invests $188,000 in Sonder Holdings Inc. (NASDAQ:SOND)

MetLife Investment Management LLC bought a new position in shares of Sonder Holdings Inc. (NASDAQ:SOND – Get Rating) during the third quarter, according to its most recent filing with the SEC. The fund bought 113,425 shares of the company’s stock, valued at approximately $188,000. MetLife Investment Management LLC owned 0.05% of Sonder at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Brown Advisory Inc. bought a new stake in Sonder in the 3rd quarter valued at about $67,000. Strs Ohio raised its stake in Sonder by 325.5% in the 3rd quarter. Strs Ohio now owns 43,400 shares of the company’s stock valued at $72,000 after acquiring an additional 33,200 shares during the period. Simplify Asset Management Inc. raised its stake in Sonder by 1,225.2% in the 2nd quarter. Simplify Asset Management Inc. now owns 249,958 shares of the company’s stock valued at $260,000 after acquiring an additional 231,096 shares during the period. New York State Common Retirement Fund raised its stake in Sonder by 34.9% in the 3rd quarter. New York State Common Retirement Fund now owns 103,900 shares of the company’s stock valued at $172,000 after acquiring an additional 26,900 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Sonder during the 3rd quarter valued at about $135,000. 49.22% of the stock is currently owned by institutional investors.

Sonder Price Performance

Shares of Sonder stock opened at $0.98 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 4.26. The company has a market cap of $213.26 million, a PE ratio of -1.00 and a beta of 2.16. The business has a 50 day moving average of $1.29 and a 200 day moving average of $1.65. Sonder Holdings Inc. has a 52 week low of $0.86 and a 52 week high of $5.46.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $2.75 target price on shares of Sonder in a report on Thursday. Citigroup reduced their target price on Sonder from $3.50 to $2.00 and set a “buy” rating for the company in a report on Friday.

Sonder Company Profile

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Sonder Holdings Inc engages in the hospitality business. It operates and manages properties comprising 1-, 2-, and 3+ bedroom; and studio apartments, as well as 1-bedroom hotel rooms for leisure travelers and families, digital nomads, and professionals in North America, Europe, and the Middle East. As of December 31, 2021, it had approximately 7,600 live units across 38 markets and 10 countries, as well as approximately 10,500 additional contracted units.