Mutual of America Capital Management LLC Sells 1,103 Shares of Sonos, Inc. (NASDAQ:SONO)

Mutual of America Capital Management LLC reduced its holdings in Sonos, Inc. (NASDAQ:SONO) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,341 shares of the company’s stock after selling 1,103 shares during the period. Mutual of America Capital Management LLC’s holdings in Sonos were worth $185,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Sonos during the fourth quarter valued at about $84,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sonos during the fourth quarter valued at approximately $103,000. Centaurus Financial Inc. bought a new stake in shares of Sonos during the fourth quarter valued at approximately $108,000. Captrust Financial Advisors bought a new stake in shares of Sonos during the fourth quarter valued at approximately $162,000. Finally, Cibc World Markets Corp bought a new stake in shares of Sonos during the fourth quarter valued at approximately $170,000. 85.82% of the stock is owned by institutional investors.

Sonos Price Performance

Shares of NASDAQ:SONO opened at $11.28 on Friday. The business’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $11.23. Sonos, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $15.89. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -19.12 and a beta of 2.04.

Analyst Upgrades and Downgrades

SONO has been the topic of several analyst reports. Wall Street Zen lowered shares of Sonos from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Rosenblatt Securities lowered their target price on shares of Sonos from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Jefferies Financial Group lowered their target price on shares of Sonos from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Sonos has a consensus rating of “Hold” and a consensus target price of $12.25.

Insider Buying and Selling at Sonos

In other news, major shareholder Coliseum Capital Management, L bought 111,898 shares of the stock in a transaction dated Tuesday, June 24th. The shares were acquired at an average price of $10.34 per share, with a total value of $1,157,025.32. Following the acquisition, the insider owned 13,193,104 shares in the company, valued at $136,416,695.36. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have bought 1,075,016 shares of company stock valued at $10,826,090. 1.80% of the stock is currently owned by corporate 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.