Holocene Advisors LP Makes New $1.42 Million Investment in Sonos, Inc. (NASDAQ:SONO)

Holocene Advisors LP purchased a new position in Sonos, Inc. (NASDAQ:SONO - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 115,226 shares of the company's stock, valued at approximately $1,416,000. Holocene Advisors LP owned about 0.10% of Sonos at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in Sonos by 24.8% in the second quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company's stock worth $51,946,000 after purchasing an additional 699,975 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Sonos by 8.6% during the second quarter. American Century Companies Inc. now owns 2,689,118 shares of the company's stock valued at $39,691,000 after buying an additional 212,610 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sonos by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,659,127 shares of the company's stock valued at $39,248,000 after buying an additional 241,700 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Sonos by 21.9% during the second quarter. Victory Capital Management Inc. now owns 1,842,770 shares of the company's stock valued at $27,199,000 after buying an additional 331,293 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of Sonos by 67.9% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,655,942 shares of the company's stock valued at $20,352,000 after buying an additional 669,658 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered shares of Sonos from an "overweight" rating to an "underweight" rating and dropped their price objective for the company from $25.00 to $11.00 in a report on Thursday, September 26th.

Sonos Stock Performance

NASDAQ SONO traded up $0.49 on Friday, reaching $14.70. 1,396,662 shares of the company's stock traded hands, compared to its average volume of 2,189,939. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -44.55 and a beta of 2.04. The stock has a 50 day moving average price of $13.05 and a 200-day moving average price of $13.38. Sonos, Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $19.76.

Sonos (NASDAQ:SONO - Get Free Report) last posted its earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.22). The business had revenue of $255.38 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. As a group, equities research analysts anticipate that Sonos, Inc. will post -0.3 EPS for the current fiscal year.

Sonos Company 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.