U.S. Capital Wealth Advisors LLC Has $1.53 Million Stake in Sonos, Inc. (NASDAQ:SONO)

U.S. Capital Wealth Advisors LLC lifted its stake in Sonos, Inc. (NASDAQ:SONO) by 893.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,325 shares of the company’s stock after acquiring an additional 92,925 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Sonos were worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SONO. ProShare Advisors LLC boosted its position in shares of Sonos by 4.6% in the first quarter. ProShare Advisors LLC now owns 24,973 shares of the company’s stock valued at $476,000 after acquiring an additional 1,092 shares during the period. Sei Investments Co. raised its position in Sonos by 0.4% in the first quarter. Sei Investments Co. now owns 315,913 shares of the company’s stock worth $6,021,000 after purchasing an additional 1,354 shares in the last quarter. WNY Asset Management LLC boosted its holdings in Sonos by 7.5% during the fourth quarter. WNY Asset Management LLC now owns 20,715 shares of the company’s stock valued at $355,000 after purchasing an additional 1,450 shares in the last quarter. Covestor Ltd lifted its position in shares of Sonos by 376.7% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after buying an additional 1,571 shares during the period. Finally, GAMMA Investing LLC bought a new stake in Sonos in the fourth quarter valued at $35,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Craig Hallum lowered shares of Sonos from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $10.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sonos has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Insider Activity

In other Sonos news, insider Nicholas Millington sold 7,730 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $14.70, for a total transaction of $113,631.00. Following the transaction, 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 document filed with the SEC, which can be accessed through this link. In related news, insider Christopher Scott Mason sold 20,000 shares of Sonos stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $17.57, for a total transaction of $351,400.00. Following the completion of the sale, the insider now directly owns 122,009 shares of the company’s stock, valued at $2,143,698.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Millington sold 7,730 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $14.70, for a total value of $113,631.00. Following the completion of the sale, the insider now directly owns 371,614 shares of the company’s stock, valued at $5,462,725.80. The disclosure for this sale can be found here. Insiders have sold 98,857 shares of company stock valued at $1,597,178 over the last three months. 3.30% of the stock is owned by insiders.

Sonos Stock Performance

Sonos stock traded up $0.16 on Friday, reaching $11.94. The company’s stock had a trading volume of 4,208,439 shares, compared to its average volume of 1,871,905. The business’s fifty day moving average price is $14.33 and its 200 day moving average price is $16.53. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -34.11 and a beta of 1.98. Sonos, Inc. has a twelve month low of $9.78 and a twelve month high of $19.76.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $397.15 million for the quarter, compared to the consensus estimate of $391.23 million. Sonos had a negative net margin of 2.82% and a negative return on equity of 0.44%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. As a group, equities analysts forecast that Sonos, Inc. will post 0.23 earnings per share for the current year.

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.