474,863 Shares in Sonos, Inc. $SONO Bought by Nuveen LLC

Nuveen LLC bought a new position in shares of Sonos, Inc. (NASDAQ:SONO) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 474,863 shares of the company’s stock, valued at approximately $5,067,000. Nuveen LLC owned approximately 0.40% of Sonos at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SONO. Coliseum Capital Management LLC lifted its position in Sonos by 50.3% in the fourth quarter. Coliseum Capital Management LLC now owns 10,734,013 shares of the company’s stock valued at $161,440,000 after acquiring an additional 3,590,782 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in Sonos in the fourth quarter valued at $18,125,000. Point72 Asset Management L.P. purchased a new stake in Sonos in the fourth quarter valued at $13,057,000. Jacobs Levy Equity Management Inc. lifted its position in Sonos by 14.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,187,522 shares of the company’s stock valued at $47,940,000 after acquiring an additional 408,479 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Sonos by 10.6% in the fourth quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company’s stock valued at $54,957,000 after acquiring an additional 351,057 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Thomas Conrad purchased 92,300 shares of the business’s stock in a transaction on Friday, August 8th. The shares were bought at an average price of $11.10 per share, with a total value of $1,024,530.00. Following the completion of the purchase, the chief executive officer directly owned 242,778 shares in the company, valued at approximately $2,694,835.80. This trade represents a 61.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Saori Casey purchased 22,727 shares of the business’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $10.94 per share, for a total transaction of $248,633.38. Following the purchase, the chief financial officer owned 107,000 shares of the company’s stock, valued at $1,170,580. This trade represents a 26.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,950,069 shares of company stock worth $31,713,016 in the last three months. 1.80% of the stock is owned by insiders.

Sonos Trading Up 2.1%

Shares of SONO opened at $13.64 on Wednesday. The firm’s 50-day moving average is $11.33 and its two-hundred day moving average is $10.87. Sonos, Inc. has a twelve month low of $7.63 and a twelve month high of $15.89. The firm has a market capitalization of $1.65 billion, a P/E ratio of -20.98 and a beta of 2.04.

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

Wall Street Analyst Weigh In

SONO has been the subject of a number of research reports. Wall Street Zen raised shares of Sonos from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price target on shares of Sonos in a report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sonos presently has a consensus rating of “Hold” and a consensus price target of $13.67.

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.