Diversified Trust Co Acquires 4,363 Shares of Sonos, Inc. (NASDAQ:SONO)

Diversified Trust Co lifted its holdings in Sonos, Inc. (NASDAQ:SONO) by 10.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 45,607 shares of the company’s stock after acquiring an additional 4,363 shares during the quarter. Diversified Trust Co’s holdings in Sonos were worth $686,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SONO. Systematic Financial Management LP lifted its stake in Sonos by 39.9% in the second quarter. Systematic Financial Management LP now owns 765,263 shares of the company’s stock worth $11,295,000 after purchasing an additional 218,061 shares during the last quarter. Barclays PLC increased its holdings in shares of Sonos by 120.3% in the third quarter. Barclays PLC now owns 923,437 shares of the company’s stock worth $11,350,000 after buying an additional 504,293 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Sonos by 42.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 877,758 shares of the company’s stock valued at $10,788,000 after acquiring an additional 263,060 shares during the last quarter. Crestwood Capital Management L.P. purchased a new stake in Sonos during the 3rd quarter valued at about $922,000. Finally, Magnetar Financial LLC bought a new position in Sonos during the 2nd quarter worth approximately $600,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Trading Down 0.9 %

Shares of NASDAQ:SONO opened at $14.75 on Friday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -44.70 and a beta of 1.99. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.76. The company has a 50-day moving average price of $14.19 and a 200-day moving average price of $13.24.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Wednesday, November 13th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.22). Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The business had revenue of $255.38 million during the quarter, compared to analysts’ expectations of $247.92 million. During the same quarter last year, the business posted ($0.21) EPS. The company’s quarterly revenue was down 16.3% compared to the same quarter last year. As a group, research analysts forecast that Sonos, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley downgraded Sonos from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $25.00 to $11.00 in a research report on Thursday, September 26th.

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.