Marquette Asset Management LLC Invests $785,000 in Sonos, Inc. $SONO

Marquette Asset Management LLC purchased a new position in Sonos, Inc. (NASDAQ:SONO) during the 4th quarter, Holdings Channel.com reports. The firm purchased 44,694 shares of the company’s stock, valued at approximately $785,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its stake in Sonos by 626.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,663,480 shares of the company’s stock valued at $42,083,000 after buying an additional 2,296,996 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake 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 worth $45,876,000 after acquiring an additional 1,181,033 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake 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 worth $15,066,000 after acquiring an additional 996,425 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Sonos by 5.9% during the third quarter. Vanguard Group Inc. now owns 13,730,353 shares of the company’s stock valued at $216,940,000 after acquiring an additional 768,776 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Sonos by 1,472.4% during the second quarter. AQR Capital Management LLC now owns 804,583 shares of the company’s stock valued at $8,698,000 after acquiring an additional 753,414 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Price Performance

Shares of NASDAQ:SONO opened at $13.58 on Friday. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $19.82. The company has a market cap of $1.64 billion, a P/E ratio of -79.88 and a beta of 1.99. The stock’s fifty day moving average price is $14.67 and its 200-day moving average price is $16.22.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.85 by $0.08. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The company had revenue of $545.66 million during the quarter, compared to the consensus estimate of $536.93 million. During the same period last year, the company earned $0.64 EPS. Sonos’s revenue for the quarter was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Insider Activity at Sonos

In related news, major shareholder Coliseum Capital Management, L acquired 125,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $13.57 per share, with a total value of $1,696,250.00. Following the completion of the acquisition, the insider directly owned 18,070,762 shares of the company’s stock, valued at approximately $245,220,240.34. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased 3,140,482 shares of company stock valued at $46,905,007 in the last three months. Insiders own 1.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SONO. Zacks Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Jefferies Financial Group raised their price objective on shares of Sonos from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Morgan Stanley set a $18.00 target price on shares of Sonos in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of Sonos from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $21.00 price target on shares of Sonos in a research report on Monday, February 2nd. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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.