UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.04 Million Stock Holdings in Sonos, Inc. $SONO

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Sonos, Inc. (NASDAQ:SONO) by 15.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 224,479 shares of the company’s stock after selling 41,921 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sonos were worth $3,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its holdings in Sonos by 307.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock worth $31,000 after acquiring an additional 1,330 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Sonos by 699.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock worth $36,000 after acquiring an additional 1,798 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Sonos in the fourth quarter worth about $50,000. Quarry LP lifted its position in shares of Sonos by 485.8% during the third quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after purchasing an additional 2,696 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Sonos during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SONO. Wall Street Zen cut shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Weiss Ratings raised Sonos from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price objective on shares of Sonos in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.00.

Sonos Price Performance

Sonos stock opened at $14.63 on Friday. The company’s 50 day simple moving average is $15.23 and its 200 day simple moving average is $14.71. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 32.51 and a beta of 1.93. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.23. The firm 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%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, analysts predict that Sonos, Inc. will post 0.69 EPS for the current fiscal year.

Insider Activity

In other Sonos news, Director Karen Boone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.39, for a total transaction of $153,900.00. Following the sale, the director directly owned 84,271 shares of the company’s stock, valued at approximately $1,296,930.69. This represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 19,855 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total transaction of $337,535.00. Following the completion of the sale, the director owned 53,775 shares of the company’s stock, valued at $914,175. This trade represents a 26.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.25% of the company’s stock.

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.