GFS Advisors LLC Purchases 67,463 Shares of Sonos, Inc. (NASDAQ:SONO)

GFS Advisors LLC raised its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 207.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the company's stock after acquiring an additional 67,463 shares during the period. GFS Advisors LLC owned approximately 0.08% of Sonos worth $1,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SONO. Covestor Ltd raised its stake in Sonos by 376.7% in the 1st quarter. Covestor Ltd now owns 1,988 shares of the company's stock valued at $38,000 after purchasing an additional 1,571 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sonos during the 2nd quarter worth approximately $46,000. Quest Partners LLC boosted its holdings in Sonos by 138.8% in the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company's stock worth $72,000 after acquiring an additional 2,819 shares during the period. nVerses Capital LLC purchased a new position in Sonos in the 2nd quarter worth approximately $81,000. Finally, International Assets Investment Management LLC boosted its holdings in Sonos by 927.0% in the 3rd quarter. International Assets Investment Management LLC now owns 7,497 shares of the company's stock worth $92,000 after acquiring an additional 6,767 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Sonos Trading Up 2.2 %

SONO stock traded up $0.27 during trading hours on Friday, hitting $12.80. 1,315,458 shares of the stock traded hands, compared to its average volume of 1,355,174. The stock has a 50-day simple moving average of $12.21 and a 200 day simple moving average of $13.94. Sonos, Inc. has a one year low of $10.10 and a one year high of $19.76. The company has a market cap of $1.55 billion, a P/E ratio of -91.42 and a beta of 2.04.

Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, meeting analysts' consensus estimates of $0.03. Sonos had a positive return on equity of 0.42% and a negative net margin of 1.04%. The business had revenue of $397.15 million during the quarter, compared to analyst estimates of $391.23 million. During the same quarter last year, the company posted $0.02 EPS. Sonos's revenue for the quarter was up 6.4% on a year-over-year basis. Analysts forecast that Sonos, Inc. will post -0.28 earnings per share for the current year.

Insider Transactions at Sonos

In related news, insider Shamayne Braman sold 6,438 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $11.56, for a total value of $74,423.28. Following the transaction, the insider now directly owns 26,588 shares of the company's stock, valued at approximately $307,357.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.30% of the company's stock.

Analyst Upgrades and Downgrades

SONO has been the subject of several research analyst reports. Morgan Stanley cut Sonos from an "overweight" rating to an "underweight" rating and reduced their target price for the company from $25.00 to $11.00 in a research note on Thursday, September 26th. Craig Hallum lowered Sonos from a "buy" rating to a "hold" rating and lowered their price target for the company from $25.00 to $10.00 in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.