Public Employees Retirement System of Ohio Invests $841,000 in Sonos, Inc. $SONO

Public Employees Retirement System of Ohio purchased a new stake in Sonos, Inc. (NASDAQ:SONO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,149 shares of the company’s stock, valued at approximately $841,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in Sonos by 22.4% in the first quarter. AQR Capital Management LLC now owns 51,169 shares of the company’s stock valued at $546,000 after acquiring an additional 9,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sonos by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company’s stock valued at $768,000 after buying an additional 3,483 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Sonos by 38.5% in the 1st quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock worth $1,613,000 after acquiring an additional 42,006 shares in the last quarter. Strs Ohio bought a new stake in shares of Sonos in the 1st quarter valued at approximately $147,000. Finally, Norges Bank acquired a new stake in shares of Sonos during the 2nd quarter valued at approximately $289,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SONO has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 target price on shares of Sonos in a research note on Thursday, July 30th. Wall Street Zen downgraded Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings raised Sonos from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Insider Buying and Selling

In other Sonos news, Director Karen Boone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $15.39, for a total transaction of $153,900.00. Following the completion of the transaction, the director owned 84,271 shares in the company, valued at approximately $1,296,930.69. The trade was a 10.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 19,855 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $17.00, for a total value of $337,535.00. Following the transaction, the director owned 53,775 shares of the company’s stock, valued at $914,175. This trade represents a 26.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.25% of the company’s stock.

Sonos Stock Up 0.4%

SONO stock opened at $14.55 on Thursday. The stock has a market cap of $1.72 billion, a PE ratio of 32.33 and a beta of 1.93. The firm’s 50-day simple moving average is $15.21 and its 200 day simple moving average is $14.72. Sonos, Inc. has a fifty-two week low of $12.44 and a fifty-two week high of $19.82.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.04 by $0.23. The company had revenue of $375.26 million for the quarter, compared to analyst estimates of $365.65 million. Sonos had a net margin of 3.82% and a return on equity of 19.10%. Sonos’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) earnings per share. Equities analysts forecast that Sonos, Inc. will post 0.69 EPS for the current fiscal year.

Sonos Company Profile

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.