GSA Capital Partners LLP Buys New Stake in Sonos, Inc. $SONO

GSA Capital Partners LLP acquired a new stake in Sonos, Inc. (NASDAQ:SONO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,205 shares of the company’s stock, valued at approximately $635,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC grew 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. Centaurus Financial Inc. boosted its holdings in Sonos by 9.0% in the 2nd quarter. Centaurus Financial Inc. now owns 10,375 shares of the company’s stock worth $112,000 after acquiring an additional 856 shares during the period. Transcend Capital Advisors LLC acquired a new stake in Sonos in the second quarter valued at approximately $119,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Sonos during the third quarter valued at approximately $194,000. Finally, Integrated Investment Consultants LLC acquired a new position in shares of Sonos during the second quarter worth $139,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insiders Place Their Bets

In other Sonos news, major shareholder Coliseum Capital Management, L acquired 494,719 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average price of $15.50 per share, with a total value of $7,668,144.50. Following the transaction, the insider directly owned 15,424,999 shares in the company, valued at approximately $239,087,484.50. This represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward P. Lazarus sold 12,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $19.00, for a total transaction of $228,000.00. Following the completion of the transaction, the insider directly owned 423,219 shares in the company, valued at $8,041,161. This represents a 2.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders acquired 1,380,283 shares of company stock valued at $21,736,881. 1.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SONO has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Sonos from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 5th. Zacks Research upgraded Sonos from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Wall Street Zen raised Sonos from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sonos in a report on Thursday, January 22nd. Finally, Morgan Stanley set a $18.00 price objective on Sonos in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sonos presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Sonos Stock Performance

Shares of SONO stock opened at $15.41 on Monday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -90.65 and a beta of 2.05. Sonos, Inc. has a one year low of $7.63 and a one year high of $19.82. The company’s 50-day simple moving average is $16.52 and its 200-day simple moving average is $16.17.

Sonos (NASDAQ:SONO) last released its earnings results on Tuesday, February 3rd. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. The company had revenue of $545.66 million for the quarter, compared to the consensus estimate of $536.93 million. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.Sonos’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. As a group, research analysts forecast that Sonos, Inc. will post -0.37 EPS for the current year.

Sonos Profile

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.