Sonos, Inc. $SONO Stock: Robeco Institutional Asset Management B.V. Cuts Stake

Robeco Institutional Asset Management B.V. trimmed its position in shares of Sonos, Inc. (NASDAQ:SONO) by 9.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 408,029 shares of the company’s stock after selling 42,026 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Sonos were worth $7,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SONO. First Trust Advisors LP grew its holdings in Sonos by 8.4% in the 1st quarter. First Trust Advisors LP now owns 14,859 shares of the company’s stock worth $199,000 after buying an additional 1,155 shares in the last quarter. Fortitude Family Office LLC increased its position in Sonos by 325.3% in the 3rd quarter. Fortitude Family Office LLC now owns 1,544 shares of the company’s stock valued at $28,000 after acquiring an additional 1,181 shares during the period. GAMMA Investing LLC raised its stake in Sonos by 15.5% during the 3rd quarter. GAMMA Investing LLC now owns 9,373 shares of the company’s stock valued at $168,000 after acquiring an additional 1,258 shares in the last quarter. Allworth Financial LP raised its stake in Sonos by 13.9% during the 2nd quarter. Allworth Financial LP now owns 12,630 shares of the company’s stock valued at $171,000 after acquiring an additional 1,540 shares in the last quarter. Finally, Leonteq Securities AG raised its stake in Sonos by 45.2% during the 1st quarter. Leonteq Securities AG now owns 7,690 shares of the company’s stock valued at $103,000 after acquiring an additional 2,395 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SONO. Wall Street Zen downgraded shares of Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Weiss Ratings upgraded shares of Sonos from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $21.00 target price on shares of Sonos in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Sonos currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Sonos Trading Down 0.9%

Shares of NASDAQ SONO opened at $17.54 on Friday. Sonos, Inc. has a twelve month low of $12.44 and a twelve month high of $19.82. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 38.98 and a beta of 1.88. The firm has a 50-day moving average of $16.47 and a two-hundred day moving average of $15.38.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.23. The company had revenue of $375.26 million for the quarter, compared to analysts’ expectations of $365.65 million. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. As a group, research analysts predict that Sonos, Inc. will post 0.69 earnings per share for the current year.

Insider Activity at Sonos

In related news, Director Karen Boone sold 46,766 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $18.13, for a total transaction of $847,867.58. Following the completion of the sale, the director directly owned 69,271 shares in the company, valued at approximately $1,255,883.23. This trade represents a 40.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 19,855 shares of Sonos stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $17.00, for a total transaction of $337,535.00. Following the completion of the transaction, the director owned 53,775 shares in the company, valued at approximately $914,175. This trade represents a 26.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 76,621 shares of company stock valued at $1,339,303. Company insiders own 1.25% of the company’s stock.

Sonos Profile

Sonos, Inc develops and sells connected audio products and software for the home. Its offerings are designed to work together over wireless networks, allowing users to play music and other audio in individual rooms or across multiple rooms through the Sonos app and compatible streaming services.

The company’s product portfolio includes wireless home speakers, portable speakers, soundbars, subwoofers and other home-theater components. Sonos also offers headphones, including the Sonos Ace, as well as software features such as voice control, multiroom audio management and integration with third-party music and media platforms.

Founded in 2002 and headquartered in Santa Barbara, California, Sonos sells its products through its website, company-operated stores and third-party retailers.