SG Americas Securities LLC Has $6.84 Million Stake in Sonos, Inc. $SONO

SG Americas Securities LLC lifted its stake in Sonos, Inc. (NASDAQ:SONO) by 68.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 389,372 shares of the company’s stock after acquiring an additional 157,851 shares during the period. SG Americas Securities LLC’s holdings in Sonos were worth $6,837,000 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. Arrowstreet Capital Limited Partnership boosted its position in Sonos by 626.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,663,480 shares of the company’s stock worth $42,083,000 after purchasing an additional 2,296,996 shares during the period. Cooper Creek Partners Management LLC raised its position in shares of Sonos by 38.6% in the second quarter. Cooper Creek Partners Management LLC now owns 4,243,813 shares of the company’s stock valued at $45,876,000 after purchasing an additional 1,181,033 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Sonos by 250.8% in the second quarter. Cubist Systematic Strategies LLC now owns 1,393,706 shares of the company’s stock valued at $15,066,000 after purchasing an additional 996,425 shares during the period. Vanguard Group Inc. lifted its stake in shares of Sonos by 5.9% in the third quarter. Vanguard Group Inc. now owns 13,730,353 shares of the company’s stock worth $216,940,000 after buying an additional 768,776 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Sonos by 1,472.4% in the second quarter. AQR Capital Management LLC now owns 804,583 shares of the company’s stock worth $8,698,000 after buying an additional 753,414 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Trading Up 3.2%

Shares of Sonos stock opened at $13.40 on Wednesday. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $19.82. The company’s fifty day simple moving average is $14.75 and its 200-day simple moving average is $16.26. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -78.82 and a beta of 1.97.

Sonos (NASDAQ:SONO) last released its earnings results on Tuesday, February 3rd. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.85 by $0.08. Sonos had a negative net margin of 1.22% and a positive return on equity of 0.82%. The firm had revenue of $545.66 million during the quarter, compared to analysts’ expectations of $536.93 million. During the same period in the prior year, the company earned $0.64 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sonos in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Sonos from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Zacks Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of Sonos in a research report on Monday, February 2nd. Finally, Morgan Stanley set a $18.00 price objective on Sonos in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.00.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L acquired 494,719 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was acquired at an average price of $15.50 per share, with a total value of $7,668,144.50. Following the completion of the transaction, the insider owned 15,424,999 shares of the company’s stock, valued at approximately $239,087,484.50. This represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have bought 3,140,482 shares of company stock worth $46,905,007. Insiders own 1.25% of the company’s stock.

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.