Vanguard Group Inc. Sells 40,196 Shares of Sonos, Inc. (NASDAQ:SONO)

Vanguard Group Inc. lowered its position in shares of Sonos, Inc. (NASDAQ:SONOFree Report) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,139,764 shares of the company’s stock after selling 40,196 shares during the period. Vanguard Group Inc. owned approximately 11.30% of Sonos worth $182,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Manhattan Co. bought a new stake in shares of Sonos during the first quarter valued at approximately $36,000. Public Employees Retirement System of Ohio boosted its holdings 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 purchasing an additional 777 shares during the last quarter. State of Wyoming purchased a new stake in Sonos in the second quarter worth approximately $31,000. Pacific Center for Financial Services purchased a new stake in Sonos in the first quarter worth approximately $39,000. Finally, Money Concepts Capital Corp boosted its holdings in Sonos by 3,649.3% in the fourth quarter. Money Concepts Capital Corp now owns 2,812 shares of the company’s stock worth $48,000 after purchasing an additional 2,737 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Price Performance

Shares of Sonos stock opened at $19.06 on Monday. The company’s fifty day simple moving average is $18.17 and its 200-day simple moving average is $15.40. The stock has a market capitalization of $2.36 billion, a PE ratio of -635.12 and a beta of 1.99. Sonos, Inc. has a 1-year low of $9.78 and a 1-year high of $21.98.

Sonos (NASDAQ:SONOGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to analysts’ expectations of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. As a group, research analysts anticipate that Sonos, Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

SONO has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and issued a $24.00 target price on shares of Sonos in a report on Monday, March 25th. TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley raised their target price on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Get Our Latest Report on SONO

Insider Activity

In other Sonos news, Director Thomas Conrad sold 5,337 shares of Sonos stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total value of $97,720.47. Following the sale, the director now directly owns 37,334 shares in the company, valued at approximately $683,585.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 7,147 shares of company stock worth $129,984 in the last three months. Company insiders own 3.30% of the company’s stock.

Sonos Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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