Sonos, Inc. (NASDAQ:SONO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,087,443 shares of the company’s stock after selling 52,321 shares during the period. Vanguard Group Inc. owned approximately 11.38% of Sonos worth $241,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SONO. WNY Asset Management LLC increased its stake in shares of Sonos by 6.3% during the third quarter. WNY Asset Management LLC now owns 19,265 shares of the company’s stock valued at $249,000 after acquiring an additional 1,150 shares during the period. GAMMA Investing LLC acquired a new position in shares of Sonos during the 4th quarter valued at $35,000. PNC Financial Services Group Inc. raised its stake in shares of Sonos by 7.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 51,789 shares of the company’s stock worth $888,000 after buying an additional 3,702 shares in the last quarter. Seven Eight Capital LP lifted its holdings in shares of Sonos by 6.5% in the fourth quarter. Seven Eight Capital LP now owns 69,982 shares of the company’s stock valued at $1,199,000 after buying an additional 4,262 shares during the period. Finally, Centaurus Financial Inc. bought a new position in Sonos during the fourth quarter valued at about $112,000. 85.82% of the stock is owned by institutional investors.

Sonos Stock Down 2.3 %

Shares of NASDAQ SONO opened at $14.42 on Tuesday. The stock’s fifty day simple moving average is $16.19 and its 200 day simple moving average is $17.15. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -41.20 and a beta of 1.98. Sonos, Inc. has a 52-week low of $9.78 and a 52-week high of $19.76.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results 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). Sonos had a negative return on equity of 0.44% and a negative net margin of 2.82%. The company had revenue of $252.66 million during the quarter, compared to analysts’ expectations of $246.48 million. As a group, analysts anticipate that Sonos, Inc. will post 0.23 earnings per share for the current year.

Insider Activity

In other Sonos news, insider Maxime Bouvat-Merlin sold 40,222 shares of Sonos stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total transaction of $665,271.88. Following the transaction, the insider now directly owns 24,650 shares in the company, valued at approximately $407,711. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Sonos news, insider Maxime Bouvat-Merlin sold 40,222 shares of the firm’s stock in a transaction dated 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 directly owns 24,650 shares in the company, valued at approximately $407,711. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $17.57, for a total value of $351,400.00. Following the completion of the transaction, 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. Insiders have sold 102,032 shares of company stock worth $1,710,805 over the last 90 days. 3.30% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.