Bank of New York Mellon Corp Has $8.45 Million Stock Position in Sonos, Inc. $SONO

Bank of New York Mellon Corp reduced its position in shares of Sonos, Inc. (NASDAQ:SONO) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 781,224 shares of the company’s stock after selling 7,768 shares during the period. Bank of New York Mellon Corp owned about 0.65% of Sonos worth $8,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC bought a new position in Sonos in the 1st quarter valued at $29,000. Nisa Investment Advisors LLC increased its stake in shares of Sonos by 65.6% in the second quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock valued at $35,000 after buying an additional 1,269 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Sonos by 222.7% in the second quarter. Farther Finance Advisors LLC now owns 3,714 shares of the company’s stock valued at $40,000 after buying an additional 2,563 shares during the last quarter. GAMMA Investing LLC lifted its position in Sonos by 96.3% during the 2nd quarter. GAMMA Investing LLC now owns 6,035 shares of the company’s stock worth $65,000 after buying an additional 2,961 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in Sonos by 38.8% during the 1st quarter. Headlands Technologies LLC now owns 7,760 shares of the company’s stock worth $83,000 after acquiring an additional 2,168 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Thomas Conrad bought 62,325 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $16.17 per share, for a total transaction of $1,007,795.25. Following the completion of the acquisition, the chief executive officer owned 305,103 shares of the company’s stock, valued at approximately $4,933,515.51. The trade was a 25.67% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SONO. Wall Street Zen upgraded shares of Sonos from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Morgan Stanley set a $17.00 price objective on Sonos and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Rosenblatt Securities increased their price objective on Sonos from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sonos in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.00.

Sonos Stock Down 1.4%

SONO opened at $15.95 on Friday. The stock has a market cap of $1.92 billion, a P/E ratio of -30.67 and a beta of 2.27. Sonos, Inc. has a 12 month low of $7.63 and a 12 month high of $18.06. The company has a fifty day simple moving average of $16.43 and a 200 day simple moving average of $13.11.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). Sonos had a negative return on equity of 11.66% and a negative net margin of 4.24%.The business had revenue of $287.90 million for the quarter, compared to the consensus estimate of $535.43 million. During the same period in the previous year, the company posted ($0.44) earnings per share. Sonos’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sonos has set its Q1 2026 guidance at EPS. On average, equities research analysts expect 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.