Centaurus Financial Inc. Takes $112,000 Position in Sonos, Inc. (NASDAQ:SONO)

Centaurus Financial Inc. purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,534 shares of the company’s stock, valued at approximately $112,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in shares of Sonos in the fourth quarter worth approximately $35,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of Sonos in the fourth quarter worth approximately $175,000. Algert Global LLC bought a new position in shares of Sonos in the third quarter worth approximately $186,000. Virtu Financial LLC bought a new position in shares of Sonos in the fourth quarter worth approximately $193,000. Finally, Cerity Partners LLC bought a new position in shares of Sonos in the fourth quarter worth approximately $239,000. 85.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Maxime Bouvat-Merlin sold 40,222 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 24,650 shares of the company’s stock, valued at $407,711. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Maxime Bouvat-Merlin sold 40,222 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 24,650 shares of the company’s stock, valued at $407,711. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Mason sold 20,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 122,009 shares of the company’s stock, valued at approximately $2,143,698.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,032 shares of company stock valued at $1,710,805. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Sonos Price Performance

Shares of SONO opened at $14.79 on Thursday. The firm has a market cap of $1.82 billion, a P/E ratio of -42.26 and a beta of 1.99. The stock has a 50 day simple moving average of $16.52 and a two-hundred day simple moving average of $17.21. Sonos, Inc. has a 1 year low of $9.78 and a 1 year high of $19.76.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.08). The company had revenue of $252.66 million for the quarter, compared to analysts’ expectations of $246.48 million. Sonos had a negative net margin of 2.82% and a negative return on equity of 0.44%. On average, equities analysts anticipate that Sonos, Inc. will post 0.23 earnings per share for the current 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.