Invesco Ltd. Buys 68,788 Shares of Sonos, Inc. $SONO

Invesco Ltd. raised its holdings in Sonos, Inc. (NASDAQ:SONO) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 463,213 shares of the company’s stock after acquiring an additional 68,788 shares during the quarter. Invesco Ltd. owned about 0.39% of Sonos worth $4,942,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SONO. Raymond James Financial Inc. bought a new position in Sonos in the fourth quarter valued at approximately $1,676,000. Dimensional Fund Advisors LP raised its holdings in Sonos by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,687,007 shares of the company’s stock worth $40,413,000 after purchasing an additional 148,608 shares during the period. MetLife Investment Management LLC raised its holdings in Sonos by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 74,827 shares of the company’s stock worth $1,125,000 after purchasing an additional 4,179 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Sonos by 8.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 90,444 shares of the company’s stock worth $1,361,000 after acquiring an additional 7,110 shares during the period. Finally, Aquatic Capital Management LLC raised its holdings in shares of Sonos by 71.0% during the fourth quarter. Aquatic Capital Management LLC now owns 23,422 shares of the company’s stock worth $352,000 after acquiring an additional 9,722 shares during the period. 85.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SONO has been the topic of a number of research analyst reports. Wall Street Zen upgraded 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 issued a $17.00 price objective on shares of Sonos in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.67.

Insider Activity at Sonos

In other news, major shareholder Coliseum Capital Management, L bought 675,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $11.25 per share, for a total transaction of $7,593,750.00. Following the transaction, the insider owned 14,505,191 shares of the company’s stock, valued at $163,183,398.75. This represents a 4.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 2,950,069 shares of company stock valued at $31,713,016. 1.80% of the stock is currently owned by insiders.

Sonos Trading Up 2.2%

Shares of NASDAQ:SONO opened at $13.94 on Thursday. The firm has a 50 day moving average of $11.41 and a 200-day moving average of $10.90. The stock has a market capitalization of $1.69 billion, a PE ratio of -21.45 and a beta of 2.04. Sonos, Inc. has a 12 month low of $7.63 and a 12 month high of $15.89.

Sonos (NASDAQ:SONO) last issued 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 during the quarter, compared to analyst estimates of $324.66 million. Sonos had a negative net margin of 5.41% and a negative return on equity of 18.19%. Sonos’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. On average, research analysts predict that Sonos, Inc. will post -0.37 EPS 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.