Geode Capital Management LLC Sells 37,898 Shares of Sonos, Inc. (NASDAQ:SONO)

Geode Capital Management LLC trimmed its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,820,456 shares of the company's stock after selling 37,898 shares during the quarter. Geode Capital Management LLC owned approximately 2.33% of Sonos worth $34,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Barclays PLC lifted its stake in shares of Sonos by 120.3% in the third quarter. Barclays PLC now owns 923,437 shares of the company's stock worth $11,350,000 after acquiring an additional 504,293 shares during the period. Luxor Capital Group LP bought a new stake in shares of Sonos in the 3rd quarter valued at $346,000. EP Wealth Advisors LLC acquired a new stake in shares of Sonos during the third quarter worth $251,000. Wellington Management Group LLP raised its stake in Sonos by 23.4% during the third quarter. Wellington Management Group LLP now owns 3,303,017 shares of the company's stock worth $40,594,000 after buying an additional 626,172 shares during the last quarter. Finally, Stadium Capital Management LLC acquired a new position in Sonos in the third quarter valued at $8,105,000. Institutional investors own 85.82% of the company's stock.

Sonos Trading Up 0.9 %

Sonos stock traded up $0.13 during midday trading on Thursday, reaching $14.91. The stock had a trading volume of 1,203,854 shares, compared to its average volume of 1,908,253. The company has a fifty day moving average price of $13.73 and a two-hundred day moving average price of $13.25. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.76. The company has a market capitalization of $1.82 billion, a P/E ratio of -45.18 and a beta of 2.04.

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

Wall Street Analyst Weigh In

Separately, Morgan Stanley lowered Sonos from an "overweight" rating to an "underweight" rating and lowered their price objective for the stock from $25.00 to $11.00 in a research report 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.