Sonos, Inc. (NASDAQ:SONO) Shares Sold by Duality Advisers LP

Duality Advisers LP lessened its stake in Sonos, Inc. (NASDAQ:SONO) by 29.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,557 shares of the company’s stock after selling 23,834 shares during the period. Duality Advisers LP’s holdings in Sonos were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Sonos by 8.1% during the 4th quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock worth $50,790,000 after purchasing an additional 221,875 shares during the period. Tabor Asset Management LP acquired a new position in Sonos during the 4th quarter worth approximately $2,257,000. NewEdge Wealth LLC acquired a new position in Sonos during the 4th quarter worth approximately $7,453,000. Point72 Hong Kong Ltd acquired a new position in Sonos during the 4th quarter worth approximately $9,677,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Sonos during the 4th quarter worth approximately $1,546,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Trading Down 0.4 %

Shares of NASDAQ:SONO traded down $0.06 during trading on Friday, hitting $14.90. 1,328,416 shares of the stock were exchanged, compared to its average volume of 1,783,100. The company has a fifty day moving average price of $15.71 and a two-hundred day moving average price of $16.99. The company has a market cap of $1.83 billion, a PE ratio of -42.74 and a beta of 1.98. Sonos, Inc. has a 12-month low of $9.78 and a 12-month high of $19.76.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.08). The firm had revenue of $252.66 million for the quarter, compared to analysts’ expectations of $246.48 million. Sonos had a negative return on equity of 0.44% and a negative net margin of 2.82%. Equities research analysts anticipate that Sonos, Inc. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $24.00 target price on shares of Sonos in a research report on Monday, March 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Activity at Sonos

In related news, insider Nicholas Millington sold 7,730 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $14.70, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Nicholas Millington sold 7,730 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $14.70, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $15.44, for a total value of $308,800.00. Following the completion of the sale, the insider now directly owns 122,009 shares in the company, valued at approximately $1,883,818.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,857 shares of company stock valued at $1,454,696. 3.30% of the stock is owned by corporate insiders.

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.