Sonos, Inc. (NASDAQ:SONO) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 42.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 877,758 shares of the company's stock after buying an additional 263,060 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.73% of Sonos worth $10,788,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new position in shares of Sonos in the third quarter valued at about $30,000. Covestor Ltd increased its holdings in Sonos by 376.7% in the 1st quarter. Covestor Ltd now owns 1,988 shares of the company's stock worth $38,000 after buying an additional 1,571 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sonos during the 2nd quarter worth approximately $46,000. KBC Group NV lifted its stake in Sonos by 52.5% during the 3rd quarter. KBC Group NV now owns 4,852 shares of the company's stock valued at $60,000 after acquiring an additional 1,670 shares during the period. Finally, Quest Partners LLC boosted its holdings in shares of Sonos by 138.8% in the 2nd 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. 85.82% of the stock is owned by institutional investors and hedge funds.

Sonos Stock Down 0.1 %

Shares of SONO stock traded down $0.01 during trading hours on Friday, hitting $13.49. 1,799,124 shares of the company's stock were exchanged, compared to its average volume of 1,935,956. Sonos, Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $19.76. The firm has a market cap of $1.64 billion, a P/E ratio of -40.95 and a beta of 2.04. The firm has a 50 day moving average of $12.70 and a two-hundred day moving average of $13.64.

Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates 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 company 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 company posted ($0.21) earnings per share. The business's revenue was down 16.3% on a year-over-year basis. On average, equities analysts forecast that Sonos, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SONO has been the subject of several recent research reports. Morgan Stanley cut shares of Sonos from an "overweight" rating to an "underweight" rating and reduced their target price for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum lowered Sonos from a "buy" rating to a "hold" rating and reduced their price objective for the company from $25.00 to $10.00 in a research note on Thursday, August 8th.

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.