Raymond James & Associates Has $1.53 Million Stake in Sonos, Inc. (NASDAQ:SONO)

Raymond James & Associates trimmed its stake in Sonos, Inc. (NASDAQ:SONO) by 5.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 89,332 shares of the company’s stock after selling 5,447 shares during the quarter. Raymond James & Associates’ holdings in Sonos were worth $1,531,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SONO. Ameritas Investment Partners Inc. increased its stake in Sonos by 5.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 9,948 shares of the company’s stock valued at $281,000 after buying an additional 519 shares during the period. ProShare Advisors LLC increased its stake in shares of Sonos by 3.8% in the first quarter. ProShare Advisors LLC now owns 20,895 shares of the company’s stock worth $410,000 after acquiring an additional 762 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Sonos by 74.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock worth $25,000 after acquiring an additional 777 shares in the last quarter. Centaurus Financial Inc. raised its holdings in shares of Sonos by 23.4% during the first quarter. Centaurus Financial Inc. now owns 4,481 shares of the company’s stock worth $126,000 after acquiring an additional 849 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in Sonos by 22.0% during the third quarter. Lazard Asset Management LLC now owns 5,349 shares of the company’s stock valued at $69,000 after purchasing an additional 964 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley upped their target price on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Rosenblatt Securities reissued a “buy” rating and set a $24.00 target price on shares of Sonos in a research report on Monday, March 25th. Finally, TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sonos presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Sonos Stock Down 0.6 %

Shares of SONO stock opened at $16.87 on Friday. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $21.98. The firm has a market cap of $2.09 billion, a PE ratio of -562.15 and a beta of 1.99. The stock has a 50 day moving average of $18.54 and a 200-day moving average of $15.86.

Sonos (NASDAQ:SONO) last announced its earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to analyst estimates 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, equities analysts predict that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Sonos

In other news, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the transaction, the insider now owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Christopher Scott Mason sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. Following the completion of the transaction, the insider now directly owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the completion of the sale, the director now directly owns 37,334 shares in the company, valued at approximately $683,585.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,147 shares of company stock worth $484,972. 3.30% of the stock is currently owned by company insiders.

Sonos Profile

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.