Zurcher Kantonalbank Zurich Cantonalbank Sells 55,868 Shares of Sonos, Inc. (NASDAQ:SONO)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 69.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,429 shares of the company’s stock after selling 55,868 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sonos were worth $419,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Ieq Capital LLC bought a new stake in Sonos during the 3rd quarter valued at $132,000. Orion Portfolio Solutions LLC grew its stake in Sonos by 16.5% in the third quarter. Orion Portfolio Solutions LLC now owns 12,389 shares of the company’s stock valued at $160,000 after purchasing an additional 1,755 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Sonos in the third quarter worth about $173,000. Fox Run Management L.L.C. bought a new position in Sonos in the third quarter worth about $176,000. Finally, Cerity Partners LLC purchased a new stake in shares of Sonos during the fourth quarter valued at about $239,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of Sonos stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the completion of the sale, the insider now owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Thomas Conrad sold 5,337 shares of the company’s 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 of the company’s stock, valued at approximately $683,585.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction 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 completion of the sale, the insider now owns 119,179 shares in the company, valued at approximately $2,099,933.98. The disclosure for this sale can be found here. Insiders sold 27,147 shares of company stock worth $484,972 in the last 90 days. Insiders own 3.30% of the company’s stock.

Sonos Stock Up 0.6 %

Shares of Sonos stock opened at $17.05 on Friday. The firm has a market capitalization of $2.11 billion, a P/E ratio of -568.14 and a beta of 2.00. Sonos, Inc. has a 52 week low of $9.78 and a 52 week high of $21.98. The company has a 50 day moving average price of $18.26 and a 200 day moving average price of $16.21.

Sonos (NASDAQ:SONO) last posted 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. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. The business had revenue of $612.87 million during the quarter, compared to analysts’ expectations of $588.96 million. As a group, research analysts anticipate that Sonos, Inc. will post 0.31 earnings per share for the current fiscal year.

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.