Handelsbanken Fonder AB Purchases 14,700 Shares of Sonos, Inc. (NASDAQ:SONO)

Handelsbanken Fonder AB lifted its position in Sonos, Inc. (NASDAQ:SONO) by 50.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,700 shares of the company’s stock after acquiring an additional 14,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sonos were worth $537,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SONO. Covestor Ltd increased its stake 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 period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sonos in the 2nd quarter worth about $46,000. Quest Partners LLC lifted its holdings in Sonos by 138.8% during the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock valued at $72,000 after buying an additional 2,819 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Sonos during the second quarter valued at approximately $81,000. Finally, Quent Capital LLC purchased a new position in Sonos during the 1st quarter worth $95,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Shamayne Braman sold 6,438 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.56, for a total transaction of $74,423.28. Following the transaction, the insider now directly owns 26,588 shares of the company’s stock, valued at $307,357.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Christopher Scott Mason sold 10,000 shares of Sonos 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 completion of the sale, the insider now directly owns 122,009 shares in the company, valued at approximately $1,763,030.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shamayne Braman sold 6,438 shares of the company’s stock in a transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SONO. Morgan Stanley downgraded Sonos from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $25.00 to $11.00 in a research report on Thursday, September 26th. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $10.00 in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sonos has a consensus rating of “Hold” and an average price target of $14.25.

Sonos Price Performance

Shares of SONO stock opened at $11.82 on Monday. The stock’s 50-day moving average is $11.89 and its 200 day moving average is $14.51. Sonos, Inc. has a 1-year low of $9.78 and a 1-year high of $19.76. The company has a market cap of $1.43 billion, a P/E ratio of -84.42 and a beta of 2.05.

Sonos (NASDAQ:SONO) last issued 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 firm had revenue of $397.15 million for the quarter, compared to the consensus estimate of $391.23 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Sonos, Inc. will post -0.28 EPS for the current year.

About Sonos

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.