Hillsdale Investment Management Inc. Purchases Shares of 281,400 Sonos, Inc. $SONO

Hillsdale Investment Management Inc. acquired a new stake in shares of Sonos, Inc. (NASDAQ:SONO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 281,400 shares of the company’s stock, valued at approximately $4,446,000. Hillsdale Investment Management Inc. owned 0.23% of Sonos as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SONO. Cooper Creek Partners Management LLC boosted its holdings in Sonos by 38.6% in the second quarter. Cooper Creek Partners Management LLC now owns 4,243,813 shares of the company’s stock valued at $45,876,000 after acquiring an additional 1,181,033 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Sonos by 250.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,393,706 shares of the company’s stock worth $15,066,000 after purchasing an additional 996,425 shares during the period. Vanguard Group Inc. lifted its stake in shares of Sonos by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 13,730,353 shares of the company’s stock valued at $216,940,000 after purchasing an additional 768,776 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Sonos by 1,472.4% during the 2nd quarter. AQR Capital Management LLC now owns 804,583 shares of the company’s stock worth $8,698,000 after purchasing an additional 753,414 shares during the period. Finally, PDT Partners LLC grew its holdings in shares of Sonos by 111.2% during the 2nd quarter. PDT Partners LLC now owns 719,504 shares of the company’s stock worth $7,778,000 after purchasing an additional 378,834 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on SONO. Zacks Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price objective on shares of Sonos in a research report on Monday, February 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Sonos in a research note on Thursday, January 22nd. Jefferies Financial Group raised their target price on shares of Sonos from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Finally, Wall Street Zen raised shares of Sonos from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sonos presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Sonos Stock Down 1.6%

Shares of NASDAQ:SONO opened at $15.41 on Monday. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -90.65 and a beta of 2.05. The company has a 50 day moving average of $16.52 and a two-hundred day moving average of $16.17. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $19.82.

Sonos (NASDAQ:SONO) last announced its earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.08. The business had revenue of $545.66 million during the quarter, compared to the consensus estimate of $536.93 million. Sonos had a negative net margin of 1.22% and a positive return on equity of 0.82%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Insider Transactions at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 494,719 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average price of $15.50 per share, for a total transaction of $7,668,144.50. Following the completion of the purchase, the insider owned 15,424,999 shares in the company, valued at $239,087,484.50. The trade was a 3.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward P. Lazarus sold 12,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $19.00, for a total value of $228,000.00. Following the completion of the transaction, the insider directly owned 423,219 shares of the company’s stock, valued at $8,041,161. This represents a 2.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, 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.

Sonos Company 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.