Royce & Associates LP Raises Stock Position in Sonos, Inc. $SONO

Royce & Associates LP boosted its position in shares of Sonos, Inc. (NASDAQ:SONO) by 49.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,266 shares of the company’s stock after acquiring an additional 156,000 shares during the period. Royce & Associates LP’s holdings in Sonos were worth $8,293,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SONO. Hantz Financial Services Inc. grew its stake in Sonos by 307.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock valued at $31,000 after acquiring an additional 1,330 shares in the last quarter. Quarry LP grew its stake in Sonos by 485.8% during the third quarter. Quarry LP now owns 3,251 shares of the company’s stock valued at $51,000 after acquiring an additional 2,696 shares in the last quarter. Leonteq Securities AG purchased a new position in Sonos during the fourth quarter valued at approximately $93,000. GAMMA Investing LLC grew its stake in Sonos by 10.2% in the 4th quarter. GAMMA Investing LLC now owns 6,832 shares of the company’s stock worth $120,000 after buying an additional 631 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Sonos by 359.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,568 shares of the company’s stock worth $147,000 after purchasing an additional 10,613 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Trading Down 0.5%

Shares of NASDAQ SONO opened at $15.85 on Friday. Sonos, Inc. has a 12 month low of $9.65 and a 12 month high of $19.82. The firm has a market capitalization of $1.89 billion, a PE ratio of 93.24 and a beta of 1.94. The firm has a fifty day simple moving average of $14.24 and a two-hundred day simple moving average of $15.70.

Wall Street Analyst Weigh In

SONO has been the subject of a number of research reports. Morgan Stanley set a $18.00 price objective on shares of Sonos in a research note on Wednesday, February 4th. Wall Street Zen cut shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research cut shares of Sonos from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Sonos in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.00.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L acquired 420,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was acquired at an average cost of $13.95 per share, for a total transaction of $5,859,000.00. Following the acquisition, the insider owned 17,341,842 shares of the company’s stock, valued at $241,918,695.90. This trade represents a 2.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have acquired 1,148,970 shares of company stock valued at $16,028,815. 1.25% of the stock is currently owned by corporate insiders.

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.