Sonos, Inc. $SONO Shares Sold by Swiss National Bank

Swiss National Bank lowered its position in shares of Sonos, Inc. (NASDAQ:SONO) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,500 shares of the company’s stock after selling 4,500 shares during the quarter. Swiss National Bank owned about 0.20% of Sonos worth $2,491,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Headlands Technologies LLC lifted its stake in Sonos by 38.8% during the first quarter. Headlands Technologies LLC now owns 7,760 shares of the company’s stock worth $83,000 after purchasing an additional 2,168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sonos during the fourth quarter worth $103,000. Centaurus Financial Inc. bought a new position in shares of Sonos in the 4th quarter worth about $108,000. Blueshift Asset Management LLC boosted its holdings in shares of Sonos by 11.4% in the 1st quarter. Blueshift Asset Management LLC now owns 13,360 shares of the company’s stock valued at $143,000 after buying an additional 1,367 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Sonos in the 4th quarter valued at about $162,000. Institutional investors own 85.82% of the company’s stock.

Sonos Stock Performance

Shares of SONO opened at $13.26 on Friday. Sonos, Inc. has a one year low of $7.63 and a one year high of $15.89. The stock’s fifty day moving average is $11.20 and its 200-day moving average is $10.91. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -20.40 and a beta of 2.04.

Sonos (NASDAQ:SONO) last announced its earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $344.76 million for the quarter, compared to the consensus estimate of $324.66 million. Sonos had a negative return on equity of 18.19% and a negative net margin of 5.41%.Sonos’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. Analysts forecast that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SONO. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 price target on shares of Sonos in a report on Wednesday. Wall Street Zen raised Sonos from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.67.

Insider Buying and Selling

In other news, CEO Thomas Conrad acquired 92,300 shares of Sonos stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $11.10 per share, with a total value of $1,024,530.00. Following the completion of the purchase, the chief executive officer owned 242,778 shares of the company’s stock, valued at $2,694,835.80. This represents a 61.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julius Genachowski bought 22,850 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $10.95 per share, with a total value of $250,207.50. Following the completion of the acquisition, the director owned 124,396 shares of the company’s stock, valued at approximately $1,362,136.20. This trade represents a 22.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 2,950,069 shares of company stock valued at $31,713,016. 1.80% of the stock is owned by insiders.

Sonos Company 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.