American Century Companies Inc. Cuts Holdings in Sonos, Inc. $SONO

American Century Companies Inc. trimmed its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 25.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 290,399 shares of the company’s stock after selling 98,344 shares during the period. American Century Companies Inc. owned approximately 0.24% of Sonos worth $3,099,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC boosted its stake in Sonos by 38.8% during the 1st quarter. Headlands Technologies LLC now owns 7,760 shares of the company’s stock valued at $83,000 after purchasing an additional 2,168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sonos during the 4th quarter valued at $103,000. Centaurus Financial Inc. purchased a new stake in Sonos during the 4th quarter valued at $108,000. Fox Run Management L.L.C. boosted its stake in Sonos by 10.1% during the 1st quarter. Fox Run Management L.L.C. now owns 12,332 shares of the company’s stock valued at $132,000 after purchasing an additional 1,128 shares during the last quarter. Finally, Blueshift Asset Management LLC boosted its stake in Sonos by 11.4% during the 1st quarter. Blueshift Asset Management LLC now owns 13,360 shares of the company’s stock valued at $143,000 after purchasing an additional 1,367 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SONO has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $17.00 target price on shares of Sonos in a research note on Wednesday, August 20th. Wall Street Zen upgraded Sonos from a “sell” rating to a “hold” rating in a research note 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. Based on data from MarketBeat, Sonos presently has an average rating of “Hold” and an average price target of $13.67.

Sonos Price Performance

SONO stock opened at $13.92 on Friday. The company has a market cap of $1.68 billion, a P/E ratio of -21.42 and a beta of 2.04. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $15.89. The stock’s fifty day moving average price is $11.57 and its 200-day moving average price is $10.89.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $344.76 million during the quarter, compared to analysts’ expectations of $324.66 million. Sonos had a negative return on equity of 18.19% and a negative net margin of 5.41%.The business’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. As a group, analysts expect that Sonos, Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L bought 675,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $11.25 per share, for a total transaction of $7,593,750.00. Following the completion of the transaction, the insider owned 14,505,191 shares of the company’s stock, valued at approximately $163,183,398.75. This trade represents a 4.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 2,950,069 shares of company stock worth $31,713,016 in the last quarter. 1.80% of the stock is currently 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.