Sonos, Inc. (NASDAQ:SONO) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 5.7% during the second quarter, Holdings Channel reports. The firm owned 297,953 shares of the company’s stock after selling 17,960 shares during the period. Sei Investments Co.’s holdings in Sonos were worth $4,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ProShare Advisors LLC raised its position in shares of Sonos by 4.6% during the 1st quarter. ProShare Advisors LLC now owns 24,973 shares of the company’s stock worth $476,000 after purchasing an additional 1,092 shares during the period. Daiwa Securities Group Inc. increased its position in Sonos by 6.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,600 shares of the company’s stock valued at $363,000 after acquiring an additional 1,400 shares during the period. WNY Asset Management LLC increased its position in Sonos by 7.5% in the 4th quarter. WNY Asset Management LLC now owns 20,715 shares of the company’s stock valued at $355,000 after acquiring an additional 1,450 shares during the period. Covestor Ltd increased its position in Sonos by 376.7% in the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock valued at $38,000 after acquiring an additional 1,571 shares during the period. Finally, Arizona State Retirement System increased its position 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 acquiring an additional 1,995 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and lowered their target price for the company from $25.00 to $11.00 in a research report on Thursday, September 26th. Craig Hallum lowered 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 note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.25.

Sonos Stock Performance

Shares of NASDAQ SONO opened at $11.81 on Wednesday. The stock has a fifty day moving average price of $12.13 and a two-hundred day moving average price of $14.91. The firm has a market cap of $1.43 billion, a P/E ratio of -33.74 and a beta of 2.04. Sonos, Inc. has a 1 year low of $9.78 and a 1 year high of $19.76.

Sonos (NASDAQ:SONO) last released 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 business 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 company’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS. On average, research analysts predict that Sonos, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at Sonos

In other 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 transaction 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 approximately $1,763,030.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Shamayne Braman sold 6,438 shares of the firm’s 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 completion of the sale, the insider now owns 26,588 shares of the company’s stock, valued at $307,357.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 approximately $1,763,030.05. The disclosure for this sale can be found here. Insiders sold a total of 17,343 shares of company stock valued at $232,498 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

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.