WNY Asset Management LLC Has $355,000 Position in Sonos, Inc. (NASDAQ:SONO)

WNY Asset Management LLC boosted its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,715 shares of the company’s stock after buying an additional 1,450 shares during the quarter. WNY Asset Management LLC’s holdings in Sonos were worth $355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Sonos in the 4th quarter valued at about $35,000. U.S. Capital Wealth Advisors LLC bought a new stake in Sonos in the 4th quarter valued at about $175,000. Algert Global LLC bought a new stake in Sonos in the 3rd quarter valued at about $186,000. Cerity Partners LLC bought a new stake in Sonos in the 4th quarter valued at about $239,000. Finally, International Assets Investment Management LLC increased its position in Sonos by 1,614.0% in the 4th quarter. International Assets Investment Management LLC now owns 15,597 shares of the company’s stock valued at $267,000 after buying an additional 14,687 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Sonos Stock Down 3.6 %

SONO stock opened at $15.16 on Friday. The business has a 50 day moving average of $16.71 and a 200-day moving average of $17.21. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $19.76.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.08). Sonos had a negative net margin of 2.82% and a negative return on equity of 0.44%. The firm had revenue of $252.66 million during the quarter, compared to analysts’ expectations of $246.48 million. As a group, analysts expect that Sonos, Inc. will post 0.23 EPS for the current year.

Insider Activity at Sonos

In other Sonos news, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $17.57, for a total transaction of $351,400.00. Following the sale, the insider now owns 122,009 shares in the company, valued at $2,143,698.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sonos news, insider Maxime Bouvat-Merlin sold 40,222 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $16.54, for a total transaction of $665,271.88. Following the sale, the insider now owns 24,650 shares in the company, valued at $407,711. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $17.57, for a total value of $351,400.00. Following the sale, the insider now owns 122,009 shares in the company, valued at approximately $2,143,698.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,032 shares of company stock worth $1,402,005. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $24.00 target price on shares of Sonos in a research report on Monday, March 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

About Sonos

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.