Swiss National Bank Trims Holdings in Sonos, Inc. (NASDAQ:SONO)

Swiss National Bank reduced its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,400 shares of the company’s stock after selling 33,800 shares during the quarter. Swiss National Bank owned 0.21% of Sonos worth $5,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. raised its position in shares of Sonos by 5.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 9,948 shares of the company’s stock valued at $281,000 after acquiring an additional 519 shares in the last quarter. Amalgamated Bank raised its position in shares of Sonos by 1.1% during the 4th quarter. Amalgamated Bank now owns 62,467 shares of the company’s stock valued at $1,056,000 after acquiring an additional 664 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Sonos by 74.1% in the third quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock worth $25,000 after buying an additional 777 shares during the period. Arizona State Retirement System increased its position in Sonos by 2.2% in the first quarter. Arizona State Retirement System now owns 36,707 shares of the company’s stock worth $720,000 after buying an additional 800 shares during the period. Finally, Centaurus Financial Inc. increased its position in Sonos by 23.4% in the first quarter. Centaurus Financial Inc. now owns 4,481 shares of the company’s stock worth $126,000 after buying an additional 849 shares during the period. 84.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SONO shares. DA Davidson increased their target price on Sonos from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Bank of America dropped their target price on Sonos from $23.70 to $20.00 in a research report on Thursday, August 10th.

Sonos Stock Performance

Shares of SONO opened at $13.75 on Thursday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -39.28, a price-to-earnings-growth ratio of 9.63 and a beta of 1.86. Sonos, Inc. has a one year low of $13.44 and a one year high of $21.98. The stock’s fifty day moving average is $15.71 and its 200-day moving average is $17.59.

Insider Activity

In other news, insider Maxime Bouvat-Merlin sold 7,496 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $14.08, for a total transaction of $105,543.68. Following the transaction, the insider now directly owns 21,681 shares of the company’s stock, valued at $305,268.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 10,211 shares of company stock valued at $148,966. Company insiders own 3.13% of the company’s stock.

Sonos Profile

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.