Sonos, Inc. (NASDAQ:SONO) Shares Bought by Quent Capital LLC

Quent Capital LLC raised its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 32.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,000 shares of the company’s stock after purchasing an additional 8,000 shares during the quarter. Quent Capital LLC’s holdings in Sonos were worth $401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SONO. ProShare Advisors LLC boosted its position in Sonos by 4.6% in the first quarter. ProShare Advisors LLC now owns 24,973 shares of the company’s stock valued at $476,000 after buying an additional 1,092 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Sonos by 6.2% in the 2nd quarter. Mackenzie Financial Corp now owns 21,075 shares of the company’s stock valued at $311,000 after acquiring an additional 1,233 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Sonos by 0.4% in the 1st quarter. Sei Investments Co. now owns 315,913 shares of the company’s stock valued at $6,021,000 after acquiring an additional 1,354 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Sonos by 6.0% in the second quarter. Daiwa Securities Group Inc. now owns 24,600 shares of the company’s stock worth $363,000 after acquiring an additional 1,400 shares during the period. Finally, WNY Asset Management LLC raised its holdings in shares of Sonos by 7.5% during the fourth quarter. WNY Asset Management LLC now owns 20,715 shares of the company’s stock worth $355,000 after purchasing an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Activity

In other Sonos news, insider Shamayne Braman sold 6,438 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $11.56, for a total transaction of $74,423.28. Following the transaction, the insider now directly owns 26,588 shares of the company’s stock, valued at $307,357.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Sonos news, insider Shamayne Braman sold 6,438 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 26,588 shares in the company, valued at approximately $307,357.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $144,500.00. Following the transaction, the insider now directly owns 122,009 shares of the company’s stock, valued at $1,763,030.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,343 shares of company stock worth $232,498 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Sonos Stock Performance

Shares of Sonos stock opened at $12.02 on Friday. The firm has a 50-day simple moving average of $12.03 and a two-hundred day simple moving average of $14.80. Sonos, Inc. has a fifty-two week low of $9.78 and a fifty-two week high of $19.76. The company has a market cap of $1.45 billion, a P/E ratio of -34.34 and a beta of 2.05.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Sonos had a positive return on equity of 0.42% and a negative net margin of 1.04%. The company had revenue of $397.15 million during the quarter, compared to analysts’ expectations of $391.23 million. During the same quarter in the prior year, the firm posted $0.02 EPS. Sonos’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Sonos, Inc. will post -0.28 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Craig Hallum downgraded Sonos from a “buy” rating to a “hold” rating and cut their price target for the stock from $25.00 to $10.00 in a research report on Thursday, August 8th. Morgan Stanley lowered Sonos from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.25.

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.