Hillsdale Investment Management Inc. Purchases 46,000 Shares of Sonos, Inc. $SONO

Hillsdale Investment Management Inc. boosted its position in Sonos, Inc. (NASDAQ:SONO) by 10.2% in the 1st quarter, HoldingsChannel reports. The firm owned 496,170 shares of the company’s stock after acquiring an additional 46,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in Sonos were worth $6,649,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in Sonos by 307.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock valued at $31,000 after buying an additional 1,330 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Sonos by 699.6% during the 4th 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 period. Daiwa Securities Group Inc. bought a new position in shares of Sonos during the 4th quarter worth approximately $50,000. Quarry LP increased its position in Sonos by 485.8% during the third quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after acquiring an additional 2,696 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in Sonos in the 4th quarter worth about $64,000. Institutional investors own 85.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on SONO shares. Weiss Ratings raised shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 target price on shares of Sonos in a report on Monday, June 15th. Wall Street Zen downgraded shares of Sonos from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research cut Sonos from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sonos has an average rating of “Hold” and an average price target of $20.00.

Sonos Trading Up 1.2%

Shares of NASDAQ:SONO opened at $15.22 on Wednesday. The firm has a 50 day moving average of $14.79 and a 200-day moving average of $14.94. Sonos, Inc. has a 12 month low of $10.11 and a 12 month high of $19.82. The stock has a market capitalization of $1.81 billion, a PE ratio of 89.53 and a beta of 1.96.

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.