Landscape Capital Management L.L.C. Has $3.44 Million Position in Sonos, Inc. (NASDAQ:SONO)

Landscape Capital Management L.L.C. boosted its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 55.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,921 shares of the company's stock after purchasing an additional 100,419 shares during the period. Landscape Capital Management L.L.C. owned about 0.23% of Sonos worth $3,440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in Sonos by 376.7% during 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. Gladius Capital Management LP acquired a new stake in shares of Sonos during the third quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sonos in the second quarter valued at approximately $46,000. Quest Partners LLC raised its stake in shares of Sonos by 138.8% in the second quarter. Quest Partners LLC now owns 4,850 shares of the company's stock valued at $72,000 after acquiring an additional 2,819 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Sonos by 52.5% in the 3rd quarter. KBC Group NV now owns 4,852 shares of the company's stock worth $60,000 after acquiring an additional 1,670 shares in the last quarter. Institutional investors own 85.82% of the company's stock.

Sonos Stock Performance

NASDAQ:SONO traded up $0.55 on Thursday, hitting $13.50. 2,157,926 shares of the stock were exchanged, compared to its average volume of 1,936,779. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -39.24 and a beta of 2.04. The company's 50-day moving average price is $12.66 and its 200 day moving average price is $13.64.

Sonos (NASDAQ:SONO - Get Free Report) last issued 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 return on equity of 4.97% and a negative net margin of 2.51%. The business had revenue of $255.38 million for the quarter, compared to analyst estimates of $247.92 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The firm's quarterly revenue was down 16.3% compared to the same quarter last year. As a group, equities research analysts predict that Sonos, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SONO shares. Craig Hallum cut Sonos from a "buy" rating to a "hold" rating and dropped their price target for the company from $25.00 to $10.00 in a report on Thursday, August 8th. Morgan Stanley cut Sonos from an "overweight" rating to an "underweight" rating and cut their price target for the company from $25.00 to $11.00 in a report on Thursday, September 26th.

About Sonos

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.