Principal Financial Group Inc. Purchases 80,342 Shares of Sonder Holdings Inc. (NASDAQ:SOND)

Principal Financial Group Inc. raised its position in Sonder Holdings Inc. (NASDAQ:SOND) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,233,902 shares of the company’s stock after purchasing an additional 80,342 shares during the quarter. Principal Financial Group Inc. owned 1.93% of Sonder worth $3,205,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SOND. JPMorgan Chase & Co. bought a new position in shares of Sonder during the first quarter worth about $54,000. Bank of New York Mellon Corp bought a new position in shares of Sonder during the first quarter worth about $149,000. BlackRock Inc. bought a new position in shares of Sonder during the first quarter worth about $4,936,000. Vanguard Group Inc. bought a new position in shares of Sonder during the first quarter worth about $5,353,000. Finally, Ergoteles LLC bought a new position in shares of Sonder during the first quarter worth about $114,000. 42.53% of the stock is currently owned by institutional investors.

Sonder Stock Performance

Shares of Sonder stock opened at $0.51 on Monday. Sonder Holdings Inc. has a 52 week low of $0.27 and a 52 week high of $2.58. The stock has a 50 day moving average price of $0.53 and a two-hundred day moving average price of $0.64. The stock has a market capitalization of $111.62 million, a PE ratio of -0.42 and a beta of 1.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOND. JMP Securities downgraded Sonder from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 29th. Oppenheimer downgraded Sonder from an “outperform” rating to a “market perform” rating in a report on Monday, May 22nd. Finally, Citigroup lowered their target price on Sonder from $1.50 to $1.15 and set a “buy” rating for the company in a report on Friday, August 11th.

About Sonder

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 business travelers in North America, Europe, and the Middle East.