Exchange Traded Concepts LLC Buys 44,053 Shares of Sonos, Inc. (NASDAQ:SONO)

Exchange Traded Concepts LLC boosted its position in Sonos, Inc. (NASDAQ:SONO - Free Report) by 115.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,203 shares of the company's stock after purchasing an additional 44,053 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.07% of Sonos worth $1,236,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SONO. Dimensional Fund Advisors LP grew its stake in shares of Sonos by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,659,127 shares of the company's stock worth $39,248,000 after acquiring an additional 241,700 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Sonos by 44.5% in the second quarter. Bank of Montreal Can now owns 31,335 shares of the company's stock worth $463,000 after acquiring an additional 9,648 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sonos in the second quarter worth $46,000. The Manufacturers Life Insurance Company boosted its position in shares of Sonos by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 68,877 shares of the company's stock valued at $1,017,000 after buying an additional 1,628 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Sonos by 6.2% during the second quarter. Mackenzie Financial Corp now owns 21,075 shares of the company's stock valued at $311,000 after buying an additional 1,233 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Sonos Price Performance

Shares of Sonos stock traded down $0.24 during trading on Friday, hitting $13.79. 1,376,625 shares of the company's stock traded hands, compared to its average volume of 1,991,360. Sonos, Inc. has a 1 year low of $10.23 and a 1 year high of $19.76. The stock has a market capitalization of $1.66 billion, a P/E ratio of -41.79 and a beta of 1.99. The business has a 50-day simple moving average of $14.37 and a 200-day simple moving average of $13.19.

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

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.