GSA Capital Partners LLP Takes $476,000 Position in Sonos, Inc. $SONO

GSA Capital Partners LLP purchased a new position in shares of Sonos, Inc. (NASDAQ:SONO) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 35,159 shares of the company’s stock, valued at approximately $476,000.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Sonos by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company’s stock valued at $244,704,000 after purchasing an additional 204,934 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Sonos by 2.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock valued at $44,319,000 after purchasing an additional 90,997 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Sonos by 2.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,281,869 shares of the company’s stock valued at $57,630,000 after buying an additional 85,468 shares during the period. Geode Capital Management LLC grew its stake in shares of Sonos by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,908,435 shares of the company’s stock valued at $51,082,000 after buying an additional 20,602 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Sonos by 27.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,384,430 shares of the company’s stock worth $31,949,000 after buying an additional 506,566 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Buying and Selling at Sonos

In other news, Director Julius Genachowski sold 19,855 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the completion of the transaction, the director directly owned 53,775 shares in the company, valued at $914,175. This trade represents a 26.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Sonos Price Performance

NASDAQ:SONO opened at $15.83 on Friday. Sonos, Inc. has a 12-month low of $12.44 and a 12-month high of $19.82. The business has a 50 day simple moving average of $14.91 and a 200 day simple moving average of $14.79. The firm has a market capitalization of $1.87 billion, a P/E ratio of 35.18 and a beta of 1.95.

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

Sonos 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.