State of Alaska Department of Revenue Has $772,000 Stock Position in Sonos, Inc. $SONO

State of Alaska Department of Revenue boosted its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 71,473 shares of the company’s stock after buying an additional 5,490 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Sonos worth $772,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Systematic Financial Management LP raised its holdings in Sonos by 21.6% during the 1st quarter. Systematic Financial Management LP now owns 1,179,243 shares of the company’s stock worth $12,583,000 after buying an additional 209,725 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Sonos by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,738,910 shares of the company’s stock worth $18,554,000 after buying an additional 40,539 shares during the period. SG Americas Securities LLC raised its holdings in Sonos by 62.3% during the 1st quarter. SG Americas Securities LLC now owns 66,277 shares of the company’s stock worth $707,000 after buying an additional 25,438 shares during the period. GAMMA Investing LLC raised its holdings in Sonos by 710.3% during the 1st quarter. GAMMA Investing LLC now owns 32,800 shares of the company’s stock worth $350,000 after buying an additional 28,752 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Sonos during the 1st quarter worth approximately $1,224,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L bought 675,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average cost of $11.25 per share, with a total value of $7,593,750.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas Conrad bought 92,300 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the chief executive officer directly owned 242,778 shares of the company’s stock, valued at $2,694,835.80. This represents a 61.34% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,875,053 shares of company stock valued at $20,886,926 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SONO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sonos in a research note on Saturday, September 27th. Wall Street Zen raised shares of Sonos from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price target on shares of Sonos in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.00.

Sonos Trading Up 4.7%

NASDAQ:SONO opened at $17.81 on Tuesday. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $17.85. The firm has a fifty day simple moving average of $13.93 and a 200 day simple moving average of $11.40. The stock has a market capitalization of $2.15 billion, a PE ratio of -27.40 and a beta of 2.26.

Sonos (NASDAQ:SONO) last released 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). Sonos had a negative net margin of 5.41% and a negative return on equity of 18.19%. The firm had revenue of $344.76 million during the quarter, compared to the consensus estimate of $324.66 million. During the same period in the prior year, the business posted $0.03 earnings per share. Sonos’s quarterly revenue was down 13.2% compared to the same quarter last year. On average, equities analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

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.