Wellington Management Group LLP Acquires 626,172 Shares of Sonos, Inc. (NASDAQ:SONO)

Wellington Management Group LLP increased its stake in Sonos, Inc. (NASDAQ:SONO - Free Report) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,303,017 shares of the company's stock after acquiring an additional 626,172 shares during the period. Wellington Management Group LLP owned approximately 2.73% of Sonos worth $40,594,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Stadium Capital Management LLC acquired a new position in Sonos during the third quarter worth about $8,105,000. Systematic Financial Management LP grew its holdings in shares of Sonos by 19.0% in the 3rd quarter. Systematic Financial Management LP now owns 910,354 shares of the company's stock worth $11,188,000 after acquiring an additional 145,091 shares during the last quarter. Portolan Capital Management LLC acquired a new stake in shares of Sonos during the third quarter worth $3,255,000. Holocene Advisors LP purchased a new stake in shares of Sonos during the third quarter valued at $1,416,000. Finally, Edgestream Partners L.P. purchased a new position in Sonos in the 3rd quarter worth about $381,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered shares of Sonos from an "overweight" rating to an "underweight" rating and reduced their price objective for the company from $25.00 to $11.00 in a research note on Thursday, September 26th.

Sonos Stock Down 0.5 %

Shares of Sonos stock traded down $0.07 during midday trading on Thursday, hitting $14.49. The company's stock had a trading volume of 577,523 shares, compared to its average volume of 1,913,208. Sonos, Inc. has a 1-year low of $10.23 and a 1-year high of $19.76. The firm has a market capitalization of $1.76 billion, a P/E ratio of -44.12 and a beta of 2.04. The stock has a 50-day simple moving average of $13.21 and a 200-day simple moving average of $13.35.

Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.22). The business had revenue of $255.38 million for the quarter, compared to analyst estimates of $247.92 million. Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The company's revenue was down 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) earnings per share. As a group, sell-side analysts predict that Sonos, Inc. will post -0.3 earnings per share for the current year.

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.