International Assets Investment Management LLC Buys 14,687 Shares of Sonos, Inc. (NASDAQ:SONO)

International Assets Investment Management LLC boosted its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 1,614.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,597 shares of the company’s stock after acquiring an additional 14,687 shares during the period. International Assets Investment Management LLC’s holdings in Sonos were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SONO. Trigran Investments Inc. raised its stake in shares of Sonos by 7.0% in the 3rd quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock valued at $86,477,000 after purchasing an additional 436,696 shares during the period. Hawk Ridge Capital Management LP raised its stake in shares of Sonos by 382.6% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 4,097,212 shares of the company’s stock valued at $52,895,000 after purchasing an additional 3,248,148 shares during the period. Wellington Management Group LLP raised its stake in shares of Sonos by 26.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,741,356 shares of the company’s stock valued at $35,391,000 after purchasing an additional 576,939 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Sonos by 11.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,680,619 shares of the company’s stock valued at $34,607,000 after purchasing an additional 278,129 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Sonos by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,312,778 shares of the company’s stock valued at $16,948,000 after purchasing an additional 87,341 shares during the period. 85.82% of the stock is currently owned by institutional investors.

Sonos Price Performance

Shares of NASDAQ:SONO opened at $16.97 on Friday. The company has a market capitalization of $2.10 billion, a P/E ratio of -565.48 and a beta of 1.99. Sonos, Inc. has a 1 year low of $9.78 and a 1 year high of $21.98. The business’s 50 day simple moving average is $18.38 and its 200 day simple moving average is $16.08.

Sonos (NASDAQ:SONO) last issued its quarterly 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 the consensus estimate of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. On average, sell-side analysts anticipate that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the sale, 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 is available at this link. In other Sonos news, Director Thomas Conrad sold 5,337 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was 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 $683,585.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Mason sold 20,000 shares of the company’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 sale, the insider now owns 119,179 shares of the company’s stock, valued at $2,099,933.98. The disclosure for this sale can be found here. Insiders have sold 27,147 shares of company stock valued at $484,972 over the last 90 days. 3.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.