Quest Partners LLC Boosts Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

Quest Partners LLC lifted its position in Sonos, Inc. (NASDAQ:SONO) by 138.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,850 shares of the company’s stock after acquiring an additional 2,819 shares during the quarter. Quest Partners LLC’s holdings in Sonos were worth $72,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SONO. ProShare Advisors LLC increased its stake in Sonos by 4.6% in the 1st quarter. ProShare Advisors LLC now owns 24,973 shares of the company’s stock valued at $476,000 after buying an additional 1,092 shares during the last quarter. Sei Investments Co. increased its position in shares of Sonos by 0.4% during the first quarter. Sei Investments Co. now owns 315,913 shares of the company’s stock valued at $6,021,000 after acquiring an additional 1,354 shares during the last quarter. WNY Asset Management LLC lifted its holdings in Sonos by 7.5% during the fourth quarter. WNY Asset Management LLC now owns 20,715 shares of the company’s stock worth $355,000 after acquiring an additional 1,450 shares during the period. Covestor Ltd boosted its position in Sonos by 376.7% in the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Sonos by 6.1% in the 2nd quarter. Arizona State Retirement System now owns 34,670 shares of the company’s stock valued at $512,000 after purchasing an additional 1,995 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Buying and Selling at Sonos

In related news, insider Nicholas Millington sold 7,730 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $14.70, for a total transaction of $113,631.00. Following the sale, the insider now owns 371,614 shares of the company’s stock, valued at approximately $5,462,725.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Shamayne Braman sold 6,438 shares of the stock in a transaction on Friday, August 16th. The stock was 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 in the company, valued at $307,357.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Millington sold 7,730 shares of Sonos stock in a transaction on Monday, July 1st. The shares were sold at an average price of $14.70, for a total value of $113,631.00. Following the sale, the insider now directly owns 371,614 shares of the company’s stock, valued at approximately $5,462,725.80. The disclosure for this sale can be found here. Insiders have sold 25,073 shares of company stock valued at $346,129 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

Sonos Price Performance

NASDAQ:SONO opened at $12.47 on Wednesday. The company has a market capitalization of $1.53 billion, a P/E ratio of -35.63 and a beta of 2.04. The business has a fifty day simple moving average of $12.53 and a two-hundred day simple moving average of $15.37. Sonos, Inc. has a 1 year low of $9.78 and a 1 year high of $19.76.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $397.15 million during 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%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. As a group, analysts anticipate that Sonos, Inc. will post 0.23 earnings per share for the current year.

Analyst Ratings Changes

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