603,094 Shares in Sonos, Inc. (NASDAQ:SONO) Bought by LMR Partners LLP

LMR Partners LLP acquired a new stake in Sonos, Inc. (NASDAQ:SONO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 603,094 shares of the company's stock, valued at approximately $7,412,000. LMR Partners LLP owned 0.50% of Sonos at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of Sonos by 24.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company's stock valued at $51,946,000 after purchasing an additional 699,975 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in 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 purchasing an additional 669,658 shares during the last quarter. Victory Capital Management Inc. increased its position in Sonos by 21.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,842,770 shares of the company's stock valued at $27,199,000 after purchasing an additional 331,293 shares during the period. Renaissance Technologies LLC grew its position in shares of Sonos by 1,725.4% in the 2nd quarter. Renaissance Technologies LLC now owns 337,700 shares of the company's stock worth $4,984,000 after buying an additional 319,200 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Sonos by 535.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 377,294 shares of the company's stock worth $4,637,000 after purchasing an additional 317,945 shares in the last quarter. Institutional investors own 85.82% of the company's stock.

Sonos Stock Performance

Shares of SONO traded up $0.27 during trading hours on Tuesday, hitting $12.90. 2,217,259 shares of the stock were exchanged, compared to its average volume of 1,933,178. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -38.27 and a beta of 2.04. The stock's 50-day moving average price is $12.59 and its two-hundred day moving average price is $13.68.

Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $247.92 million. During the same period last year, the company earned ($0.21) EPS. The business's revenue for the quarter was down 16.3% on a year-over-year basis. On average, research analysts expect that Sonos, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Craig Hallum cut shares of Sonos from a "buy" rating to a "hold" rating and lowered their target price for the company from $25.00 to $10.00 in a research note on Thursday, August 8th. Morgan Stanley downgraded Sonos from an "overweight" rating to an "underweight" rating and decreased their target price 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.