EFG International AG Buys Shares of 239,688 Sonos, Inc. $SONO

EFG International AG purchased a new position in Sonos, Inc. (NASDAQ:SONO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 239,688 shares of the company’s stock, valued at approximately $3,242,000. EFG International AG owned 0.20% of Sonos as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Sonos in the 2nd quarter worth approximately $248,067,000. Vanguard Group Inc. boosted its stake in shares of Sonos by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company’s stock worth $244,704,000 after buying an additional 204,934 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Sonos by 2.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock worth $44,319,000 after acquiring an additional 90,997 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Sonos by 2.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,281,869 shares of the company’s stock valued at $57,630,000 after acquiring an additional 85,468 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Sonos by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,908,435 shares of the company’s stock valued at $51,082,000 after acquiring an additional 20,602 shares during the period. Institutional investors own 85.82% of the company’s stock.

Sonos Trading Up 0.3%

Shares of NASDAQ:SONO opened at $15.33 on Thursday. The stock has a 50 day moving average of $14.95 and a 200 day moving average of $14.78. The company has a market cap of $1.81 billion, a PE ratio of 34.07 and a beta of 1.95. Sonos, Inc. has a 12-month low of $12.44 and a 12-month high of $19.82.

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

Insider Activity at Sonos

In related news, Director Julius Genachowski sold 19,855 shares of Sonos stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total transaction of $337,535.00. Following the transaction, the director owned 53,775 shares in the company, valued at approximately $914,175. The trade was a 26.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $21.00 target price on shares of Sonos in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Sonos from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

About Sonos

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.