Sonos, Inc. $SONO Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 222.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,714 shares of the company’s stock after purchasing an additional 2,563 shares during the quarter. Farther Finance Advisors LLC’s holdings in Sonos were worth $40,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC purchased a new position in shares of Sonos in the 1st quarter valued at about $29,000. Headlands Technologies LLC raised its holdings in 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 acquiring an additional 2,168 shares in the last quarter. State of Wyoming purchased a new position in Sonos in the first quarter worth approximately $85,000. Corient IA LLC acquired a new position in Sonos during the 1st quarter worth approximately $107,000. Finally, Versor Investments LP acquired a new position in Sonos during the 1st quarter worth approximately $114,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L acquired 675,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $7,593,750.00. Following the transaction, the insider directly owned 14,505,191 shares in the company, valued at approximately $163,183,398.75. This represents a 4.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julius Genachowski acquired 22,850 shares of the business’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $10.95 per share, with a total value of $250,207.50. Following the transaction, the director owned 124,396 shares in the company, valued at $1,362,136.20. The trade was a 22.50% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,875,053 shares of company stock valued at $20,886,926. Company insiders own 1.80% of the company’s stock.

Sonos Stock Performance

NASDAQ SONO opened at $17.81 on Tuesday. The firm’s fifty day moving average is $13.93 and its two-hundred day moving average is $11.40. Sonos, Inc. has a one year low of $7.63 and a one year high of $17.85. The firm has a market cap of $2.15 billion, a PE ratio of -27.40 and a beta of 2.26.

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 company had revenue of $344.76 million for 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. Research analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SONO shares. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Sonos in a report on Wednesday, August 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Sonos in a research note on Saturday, September 27th. Finally, Wall Street Zen raised Sonos from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.00.

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.