24,635 Shares in Sonos, Inc. (NASDAQ:SONO) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 24,635 shares of the company’s stock, valued at approximately $364,000.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of Sonos by 376.7% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after buying an additional 1,571 shares in the last quarter. Quest Partners LLC boosted its stake in Sonos by 138.8% during the second quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after acquiring an additional 2,819 shares in the last quarter. nVerses Capital LLC bought a new position in Sonos during the second quarter worth $81,000. Quent Capital LLC acquired a new stake in Sonos in the first quarter worth $95,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Sonos during the fourth quarter valued at about $112,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Stock Performance

SONO stock opened at $12.15 on Friday. The business has a 50-day simple moving average of $12.25 and a two-hundred day simple moving average of $15.10. Sonos, Inc. has a 52-week low of $9.78 and a 52-week high of $19.76. The company has a market capitalization of $1.47 billion, a P/E ratio of -34.71 and a beta of 2.04.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $397.15 million for the quarter, compared to analyst estimates of $391.23 million. Sonos had a positive return on equity of 0.42% and a negative net margin of 1.04%. Sonos’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.02 earnings per share. As a group, sell-side analysts forecast that Sonos, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Activity at Sonos

In other Sonos news, insider Christopher Scott Mason sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 122,009 shares of the company’s stock, valued at $1,763,030.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Shamayne Braman sold 6,438 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $11.56, for a total value of $74,423.28. Following the sale, the insider now owns 26,588 shares of the company’s stock, valued at $307,357.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Mason sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $14.45, for a total transaction of $144,500.00. Following the sale, 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. Over the last quarter, insiders have sold 25,073 shares of company stock worth $346,129. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SONO. Craig Hallum downgraded Sonos from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $10.00 in a research note on Thursday, August 8th. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $25.00 to $11.00 in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.25.

Sonos 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.