Sonos, Inc. $SONO is Trigran Investments Inc.’s 4th Largest Position

Trigran Investments Inc. reduced its position in Sonos, Inc. (NASDAQ:SONO) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,542,398 shares of the company’s stock after selling 460,336 shares during the quarter. Sonos makes up about 8.8% of Trigran Investments Inc.’s holdings, making the stock its 4th largest position. Trigran Investments Inc. owned about 2.10% of Sonos worth $44,645,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in Sonos by 626.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,663,480 shares of the company’s stock valued at $42,083,000 after acquiring an additional 2,296,996 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Sonos by 250.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,393,706 shares of the company’s stock valued at $15,066,000 after acquiring an additional 996,425 shares during the period. Vanguard Group Inc. raised its holdings in Sonos by 5.9% during the 3rd 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 during the period. AQR Capital Management LLC raised its holdings in Sonos by 1,472.4% during the 2nd 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 during the period. Finally, Norges Bank bought a new stake in Sonos during the 4th quarter valued at $12,357,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Zacks Research cut shares of Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen cut shares of Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $21.00 target price on shares of Sonos in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.00.

Sonos Price Performance

SONO opened at $15.36 on Monday. The company has a fifty day moving average price of $14.74 and a 200-day moving average price of $15.62. The firm has a market capitalization of $1.83 billion, a P/E ratio of 90.36 and a beta of 1.93. Sonos, Inc. has a one year low of $9.65 and a one year high of $19.82.

Insider Activity at Sonos

In other news, major shareholder Coliseum Capital Management, L purchased 125,000 shares of Sonos stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $13.57 per share, for a total transaction of $1,696,250.00. Following the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.25% of the stock is owned by company insiders.

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.