American Century Companies Inc. Purchases 212,610 Shares of Sonos, Inc. (NASDAQ:SONO)

American Century Companies Inc. lifted its position in shares of Sonos, Inc. (NASDAQ:SONO) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,689,118 shares of the company’s stock after acquiring an additional 212,610 shares during the quarter. American Century Companies Inc. owned approximately 2.19% of Sonos worth $39,691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Sonos by 2,222.0% during the 2nd quarter. SG Americas Securities LLC now owns 172,549 shares of the company’s stock valued at $2,547,000 after buying an additional 165,118 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Sonos by 8.1% during the fourth quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock valued at $50,790,000 after buying an additional 221,875 shares during the period. Tabor Asset Management LP bought a new stake in shares of Sonos during the fourth quarter valued at about $2,257,000. Point72 Hong Kong Ltd bought a new stake in shares of Sonos during the fourth quarter valued at about $9,677,000. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of Sonos during the first quarter valued at about $1,402,000. Institutional investors own 85.82% of the company’s stock.

Sonos Trading Up 2.8 %

Shares of NASDAQ SONO opened at $12.47 on Wednesday. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $19.76. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -35.63 and a beta of 2.04. The business has a 50-day moving average of $12.53 and a 200-day moving average of $15.37.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Sonos had a positive return on equity of 0.42% and a negative net margin of 1.04%. The company had revenue of $397.15 million during the quarter, compared to analyst estimates of $391.23 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Sonos’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Sonos, Inc. will post 0.23 earnings per share for the current year.

Insider Activity

In other news, insider Christopher Scott Mason sold 10,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $14.45, for a total transaction of $144,500.00. Following the transaction, the insider now directly owns 122,009 shares in the company, valued at approximately $1,763,030.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Nicholas Millington sold 7,730 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $14.70, for a total transaction of $113,631.00. Following the transaction, the insider now directly owns 371,614 shares in the company, valued at approximately $5,462,725.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Mason sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $14.45, for a total value of $144,500.00. Following the transaction, the insider now owns 122,009 shares in the company, valued at $1,763,030.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,073 shares of company stock worth $346,129. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Craig Hallum cut Sonos from a “buy” rating to a “hold” rating and decreased their price target for the company from $25.00 to $10.00 in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

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.