Sonos, Inc. $SONO Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in Sonos, Inc. (NASDAQ:SONO) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 346,257 shares of the company’s stock after selling 13,121 shares during the quarter. Rhumbline Advisers owned about 0.29% of Sonos worth $3,695,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. AlphaQuest LLC purchased a new stake in shares of Sonos in the first quarter valued at about $29,000. Headlands Technologies LLC grew its holdings in shares of Sonos by 38.8% in the first 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 period. State of Wyoming purchased a new stake in shares of Sonos in the first quarter valued at about $85,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sonos in the fourth quarter valued at about $103,000. Finally, Corient IA LLC purchased a new position in Sonos during the first quarter worth about $107,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analyst Ratings Changes

SONO has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed 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 raised shares of Sonos from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sonos presently has a consensus rating of “Hold” and a consensus target price of $13.67.

Insider Activity

In other news, CEO Thomas Conrad bought 92,300 shares of Sonos stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $11.10 per share, with a total value of $1,024,530.00. Following the completion of the acquisition, the chief executive officer directly owned 242,778 shares in the company, valued at $2,694,835.80. The trade was a 61.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $11.21 per share, for a total transaction of $616,550.00. Following the acquisition, the insider owned 14,930,280 shares of the company’s stock, valued at $167,368,438.80. This represents a 0.37% increase in their position. The disclosure for this purchase can be found here. Insiders bought 2,298,481 shares of company stock worth $25,132,123 in the last ninety days. 1.80% of the stock is owned by insiders.

Sonos Stock Performance

NASDAQ SONO opened at $15.13 on Monday. The firm has a 50 day simple moving average of $12.33 and a 200-day simple moving average of $10.99. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -23.28 and a beta of 2.17. Sonos, Inc. has a one year low of $7.63 and a one year high of $15.89.

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 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%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. Equities analysts predict that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

About Sonos

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.