Sonos, Inc. (NASDAQ:SONO) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its holdings in Sonos, Inc. (NASDAQ:SONO) by 16.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,774 shares of the company’s stock after selling 37,557 shares during the period. Millennium Management LLC owned approximately 0.15% of Sonos worth $2,786,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Sonos by 1.2% in the first quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock valued at $271,627,000 after purchasing an additional 163,736 shares in the last quarter. Pacer Advisors Inc. grew its holdings 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 valued at $51,946,000 after purchasing an additional 699,975 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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. grew its holdings in shares of Sonos by 10.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,890,787 shares of the company’s stock valued at $55,098,000 after purchasing an additional 266,748 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Sonos by 8.6% in the second quarter. American Century Companies Inc. now owns 2,689,118 shares of the company’s stock worth $39,691,000 after acquiring an additional 212,610 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Transactions at Sonos

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 transaction of $74,423.28. Following the completion of the sale, the insider now owns 26,588 shares in the company, valued at approximately $307,357.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 sale, the insider now owns 26,588 shares in the company, valued at $307,357.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Mason sold 10,000 shares of the company’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 completion of the sale, the insider now owns 122,009 shares of the company’s stock, valued at approximately $1,763,030.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

SONO has been the subject of a number of recent research reports. Morgan Stanley downgraded shares of Sonos from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $25.00 to $11.00 in a research note on Thursday, September 26th. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $10.00 in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.25.

Sonos Trading Up 3.2 %

Shares of NASDAQ:SONO opened at $12.20 on Tuesday. The company has a market capitalization of $1.48 billion, a PE ratio of -87.14 and a beta of 2.05. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $19.76. The firm has a 50 day simple moving average of $11.90 and a 200-day simple moving average of $14.47.

Sonos (NASDAQ:SONO) last issued 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 the consensus estimate of $391.23 million. Sonos had a negative net margin of 1.04% and a positive return on equity of 0.42%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. As a group, equities research analysts predict that Sonos, Inc. will post -0.28 EPS for the current fiscal 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.