Sonos, Inc. (NASDAQ:SONO) Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP boosted its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 39.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 765,263 shares of the company's stock after buying an additional 218,061 shares during the quarter. Systematic Financial Management LP owned approximately 0.62% of Sonos worth $11,295,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Sonos by 2,222.0% in the 2nd quarter. SG Americas Securities LLC now owns 172,549 shares of the company's stock valued at $2,547,000 after purchasing an additional 165,118 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Sonos by 8.1% in the 4th quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company's stock valued at $50,790,000 after purchasing an additional 221,875 shares in the last quarter. Tabor Asset Management LP bought a new stake in shares of Sonos in the 4th quarter valued at about $2,257,000. Point72 Hong Kong Ltd bought a new stake in shares of Sonos in the 4th quarter valued at about $9,677,000. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of Sonos in the 1st quarter valued at about $1,402,000. Institutional investors own 85.82% of the company's stock.

Sonos Stock Up 1.2 %

Shares of Sonos stock traded up $0.14 on Monday, reaching $12.29. The stock had a trading volume of 1,743,313 shares, compared to its average volume of 1,959,959. The company has a 50 day moving average price of $12.22 and a 200 day moving average price of $15.00. Sonos, Inc. has a 1 year low of $9.78 and a 1 year high of $19.76. The stock has a market capitalization of $1.51 billion, a P/E ratio of -34.71 and a beta of 2.04.

Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.03. Sonos had a negative net margin of 1.04% and a positive return on equity of 0.42%. The firm had revenue of $397.15 million for the quarter, compared to the consensus estimate of $391.23 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The company's quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that Sonos, Inc. will post -0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sonos news, insider Shamayne Braman sold 6,438 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $11.56, for a total transaction of $74,423.28. Following the sale, the insider now owns 26,588 shares of the company's stock, valued at approximately $307,357.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sonos news, insider Shamayne Braman sold 6,438 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $11.56, for a total transaction of $74,423.28. Following the sale, the insider now owns 26,588 shares of the company's stock, valued at approximately $307,357.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Scott Mason sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $14.45, for a total transaction of $144,500.00. Following the sale, the insider now directly owns 122,009 shares in the company, valued at approximately $1,763,030.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,343 shares of company stock valued at $232,498. Insiders own 3.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SONO. Craig Hallum lowered shares of Sonos from a "buy" rating to a "hold" rating and reduced their price target for the company from $25.00 to $10.00 in a report on Thursday, August 8th. Morgan Stanley lowered shares of Sonos from an "overweight" rating to an "underweight" rating and reduced their price target for the company from $25.00 to $11.00 in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.25.

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.