White Pine Capital LLC Invests $393,000 in Sonos, Inc. (NASDAQ:SONO)

White Pine Capital LLC acquired a new position in shares of Sonos, Inc. (NASDAQ:SONO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 26,107 shares of the company’s stock, valued at approximately $393,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. increased its holdings in Sonos by 3.3% in the third quarter. Harbor Capital Advisors Inc. now owns 39,381 shares of the company’s stock valued at $484,000 after purchasing an additional 1,267 shares during the period. GAMMA Investing LLC raised its position in shares of Sonos by 50.1% during the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock worth $61,000 after acquiring an additional 1,352 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Sonos by 4.2% in the fourth quarter. SG Americas Securities LLC now owns 40,839 shares of the company’s stock worth $614,000 after acquiring an additional 1,644 shares during the period. KBC Group NV boosted its holdings in Sonos by 52.5% in the third quarter. KBC Group NV now owns 4,852 shares of the company’s stock valued at $60,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new stake in Sonos during the 3rd quarter valued at approximately $30,000. Institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reissued a “buy” rating and issued a $18.00 price objective on shares of Sonos in a research note on Friday, February 7th.

Sonos Stock Performance

Shares of SONO stock opened at $13.17 on Friday. The firm’s 50 day moving average is $14.39 and its 200 day moving average is $13.18. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.76.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Sonos had a negative return on equity of 13.22% and a negative net margin of 4.73%. On average, equities research analysts predict that Sonos, Inc. will post -0.3 earnings per share 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.