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

Systematic Financial Management LP lifted its stake in Sonos, Inc. (NASDAQ:SONO - Free Report) by 19.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 910,354 shares of the company's stock after acquiring an additional 145,091 shares during the period. Systematic Financial Management LP owned 0.75% of Sonos worth $11,188,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SONO. Gladius Capital Management LP bought a new position in shares of Sonos in the 3rd quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sonos in the 2nd quarter worth $46,000. KBC Group NV raised its position 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. Quest Partners LLC increased its position in Sonos by 138.8% during the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company's stock valued at $72,000 after buying an additional 2,819 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Sonos during the 2nd quarter valued at about $81,000. 85.82% of the stock is owned by institutional investors.

Sonos Trading Up 3.4 %

Shares of SONO stock traded up $0.49 during mid-day trading on Friday, reaching $14.70. The stock had a trading volume of 1,301,721 shares, compared to its average volume of 1,924,212. The business's fifty day moving average is $13.05 and its 200-day moving average is $13.40. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -44.54 and a beta of 2.04. Sonos, Inc. has a 1-year low of $10.23 and a 1-year high of $19.76.

Sonos (NASDAQ:SONO - Get Free Report) last announced 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). The firm had revenue of $255.38 million during the quarter, compared to analyst estimates of $247.92 million. Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The firm's revenue for the quarter was down 16.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) earnings per share. On average, analysts forecast that Sonos, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

SONO has been the topic of several recent analyst reports. Morgan Stanley lowered 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 report on Thursday, September 26th. Craig Hallum lowered Sonos from a "buy" rating to a "hold" rating and reduced their target price for the company from $25.00 to $10.00 in a research report on Thursday, August 8th.

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.