Pacer Advisors Inc. Has $51.95 Million Position in Sonos, Inc. (NASDAQ:SONO)

Pacer Advisors Inc. lifted its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 24.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,519,368 shares of the company’s stock after purchasing an additional 699,975 shares during the period. Pacer Advisors Inc. owned 2.86% of Sonos worth $51,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its holdings in Sonos by 376.7% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after acquiring an additional 1,571 shares during the last quarter. Quest Partners LLC lifted its position in shares of Sonos by 138.8% during the second quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after purchasing an additional 2,819 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Sonos during the first quarter valued at approximately $95,000. nVerses Capital LLC acquired a new stake in shares of Sonos in the second quarter valued at approximately $81,000. Finally, Centaurus Financial Inc. bought a new position in Sonos in the 4th quarter worth approximately $112,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Craig Hallum lowered Sonos from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $10.00 in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Sonos currently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Insider Transactions at Sonos

In related news, insider Shamayne Braman sold 6,438 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.56, for a total value of $74,423.28. Following the completion of the sale, the insider now owns 26,588 shares in the company, valued at $307,357.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Shamayne Braman sold 6,438 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.56, for a total transaction of $74,423.28. Following the completion of the transaction, the insider now directly owns 26,588 shares in the company, valued at approximately $307,357.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Mason sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $14.45, for a total transaction of $144,500.00. Following the completion of the sale, the insider now owns 122,009 shares in the company, valued at $1,763,030.05. The disclosure for this sale can be found here. Insiders have sold 25,073 shares of company stock worth $346,129 in the last three months. Insiders own 3.30% of the company’s stock.

Sonos Trading Up 0.9 %

Shares of NASDAQ SONO opened at $12.64 on Friday. Sonos, Inc. has a 1 year low of $9.78 and a 1 year high of $19.76. The firm’s 50-day moving average is $12.39 and its 200-day moving average is $15.26. The firm has a market capitalization of $1.55 billion, a PE ratio of -36.11 and a beta of 2.04.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $397.15 million for the quarter, compared to analysts’ expectations of $391.23 million. Sonos had a negative net margin of 1.04% and a positive return on equity of 0.42%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. As a group, equities research analysts anticipate that Sonos, Inc. will post 0.23 earnings per share for the current fiscal year.

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.