Marshall Wace LLP Sells 753,591 Shares of Sonos, Inc. (NASDAQ:SONO)

Marshall Wace LLP reduced its stake in Sonos, Inc. (NASDAQ:SONO) by 56.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 584,278 shares of the company’s stock after selling 753,591 shares during the quarter. Marshall Wace LLP’s holdings in Sonos were worth $8,624,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Sonos by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock valued at $271,627,000 after acquiring an additional 163,736 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Sonos by 24.8% in the second quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company’s stock worth $51,946,000 after purchasing an additional 699,975 shares during the period. Wellington Management Group LLP raised its stake in Sonos by 8.1% in the fourth quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock valued at $50,790,000 after purchasing an additional 221,875 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Sonos by 10.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,890,787 shares of the company’s stock worth $55,098,000 after purchasing an additional 266,748 shares during the period. Finally, American Century Companies Inc. grew its stake in Sonos by 8.6% during the second quarter. American Century Companies Inc. now owns 2,689,118 shares of the company’s stock worth $39,691,000 after buying an additional 212,610 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SONO. Morgan Stanley cut shares of Sonos from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $25.00 to $11.00 in a research report on Thursday. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $10.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.25.

Sonos Trading Up 1.0 %

Shares of NASDAQ SONO opened at $12.15 on Monday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -34.71 and a beta of 2.04. Sonos, Inc. has a 12 month low of $9.78 and a 12 month high of $19.76. The stock has a 50-day moving average price of $12.22 and a two-hundred day moving average price of $15.00.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. Sonos had a negative net margin of 1.04% and a positive return on equity of 0.42%. The business had revenue of $397.15 million during the quarter, compared to analysts’ expectations of $391.23 million. During the same period in the prior year, the company earned $0.02 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Sonos, Inc. will post -0.29 earnings per share for the current year.

Insider Activity

In related news, insider Christopher Scott Mason sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was 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 approximately $1,763,030.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sonos news, insider Shamayne Braman sold 6,438 shares of the company’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 completion of the transaction, the insider now directly owns 26,588 shares in the company, valued at approximately $307,357.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher Scott Mason sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 122,009 shares of the company’s stock, valued at approximately $1,763,030.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,343 shares of company stock worth $232,498. Insiders own 3.30% of the company’s stock.

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.