Sonos, Inc. $SONO Stock Holdings Increased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,711 shares of the company’s stock after acquiring an additional 3,359 shares during the period. Harbor Capital Advisors Inc.’s holdings in Sonos were worth $310,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Coliseum Capital Management LLC lifted its holdings in shares of Sonos by 9.7% in the first quarter. Coliseum Capital Management LLC now owns 11,775,582 shares of the company’s stock valued at $125,645,000 after buying an additional 1,041,569 shares during the period. Trigran Investments Inc. lifted its holdings in Sonos by 24.0% in the 1st quarter. Trigran Investments Inc. now owns 5,248,935 shares of the company’s stock valued at $56,006,000 after acquiring an additional 1,017,223 shares during the last quarter. Nuveen LLC bought a new position in shares of Sonos during the 1st quarter valued at about $5,067,000. Jones Financial Companies Lllp grew its stake in shares of Sonos by 22,701.2% in the 1st quarter. Jones Financial Companies Lllp now owns 353,190 shares of the company’s stock worth $3,769,000 after purchasing an additional 351,641 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Sonos by 10.6% in the 4th quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company’s stock worth $54,957,000 after purchasing an additional 351,057 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Stock Performance

NASDAQ SONO opened at $15.57 on Friday. Sonos, Inc. has a twelve month low of $7.63 and a twelve month high of $15.89. The stock has a market capitalization of $1.88 billion, a PE ratio of -23.95 and a beta of 2.17. The stock has a 50-day simple moving average of $12.79 and a 200 day simple moving average of $11.10.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data 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). Sonos had a negative return on equity of 18.19% and a negative net margin of 5.41%.The business had revenue of $344.76 million for the quarter, compared to analyst estimates of $324.66 million. During the same period in the prior year, the firm posted $0.03 EPS. Sonos’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, equities research analysts forecast that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SONO. Rosenblatt Securities restated a “buy” rating and set a $17.00 target price on shares of Sonos in a report on Wednesday, August 20th. Wall Street Zen raised 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.67.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L purchased 675,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $11.25 per share, with a total value of $7,593,750.00. Following the acquisition, the insider directly owned 14,505,191 shares in the company, valued at approximately $163,183,398.75. The trade was a 4.88% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Conrad purchased 92,300 shares of the business’s stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $11.10 per share, with a total value of $1,024,530.00. Following the acquisition, the chief executive officer owned 242,778 shares in the company, valued at approximately $2,694,835.80. This represents a 61.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,060,481 shares of company stock valued at $22,771,163 in the last three months. 1.80% of the stock is owned by insiders.

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.