BNP Paribas Financial Markets Grows Position in Sonos, Inc. (NASDAQ:SONO)

BNP Paribas Financial Markets increased its position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 73.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,567 shares of the company's stock after acquiring an additional 54,972 shares during the quarter. BNP Paribas Financial Markets owned about 0.11% of Sonos worth $1,592,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in Sonos in the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sonos during the 2nd quarter worth approximately $46,000. Quest Partners LLC increased its stake in Sonos by 138.8% during the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company's stock valued at $72,000 after purchasing an additional 2,819 shares in the last quarter. KBC Group NV raised its holdings in shares of Sonos by 52.5% in the third quarter. KBC Group NV now owns 4,852 shares of the company's stock worth $60,000 after buying an additional 1,670 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Sonos during the second quarter worth $81,000. Institutional investors own 85.82% of the company's stock.

Sonos Stock Up 1.2 %

Shares of NASDAQ:SONO traded up $0.18 during trading on Monday, reaching $14.88. 1,501,508 shares of the company's stock traded hands, compared to its average volume of 1,922,428. The firm has a market cap of $1.81 billion, a PE ratio of -45.09 and a beta of 2.04. Sonos, Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $19.76. The company has a 50-day simple moving average of $13.10 and a 200-day simple moving average of $13.35.

Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The business had revenue of $255.38 million during the quarter, compared to analysts' expectations of $247.92 million. During the same quarter last year, the firm earned ($0.21) earnings per share. The firm's quarterly revenue was down 16.3% compared to the same quarter last year. On average, equities research analysts forecast that Sonos, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered Sonos from an "overweight" rating to an "underweight" rating and reduced their target price for the stock from $25.00 to $11.00 in a research note on Thursday, September 26th.

Sonos Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.