AQR Capital Management LLC Sells 5,585 Shares of Sonos, Inc. (NASDAQ:SONO)

AQR Capital Management LLC decreased its holdings in Sonos, Inc. (NASDAQ:SONO) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,167 shares of the company’s stock after selling 5,585 shares during the quarter. AQR Capital Management LLC’s holdings in Sonos were worth $800,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. WNY Asset Management LLC lifted its holdings in shares of Sonos by 7.5% in the fourth quarter. WNY Asset Management LLC now owns 20,715 shares of the company’s stock valued at $355,000 after purchasing an additional 1,450 shares in the last quarter. Virtu Financial LLC purchased a new position in Sonos during the 4th quarter worth $193,000. Centaurus Financial Inc. bought a new stake in shares of Sonos in the 4th quarter worth $112,000. Wellington Management Group LLP raised its holdings in shares of Sonos by 8.1% in the fourth quarter. Wellington Management Group LLP now owns 2,963,231 shares of the company’s stock valued at $50,790,000 after purchasing an additional 221,875 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Sonos by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 51,789 shares of the company’s stock valued at $888,000 after purchasing an additional 3,702 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Activity at Sonos

In related news, insider Christopher Scott Mason sold 10,000 shares of Sonos 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 completion of the transaction, the insider now directly owns 122,009 shares in the company, valued at approximately $1,763,030.05. 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. In other 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 transaction of $74,423.28. Following the sale, the insider now directly owns 26,588 shares in the company, valued at $307,357.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher Scott Mason sold 10,000 shares of the firm’s 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 transaction, the insider now owns 122,009 shares of the company’s stock, valued at $1,763,030.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by corporate insiders.

Sonos Trading Down 0.8 %

Shares of NASDAQ SONO opened at $11.82 on Friday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -33.77 and a beta of 2.05. The stock has a fifty day simple moving average of $11.89 and a two-hundred day simple moving average of $14.55. Sonos, Inc. has a 1-year low of $9.78 and a 1-year high of $19.76.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $10.00 in a research report on Thursday, August 8th. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $25.00 to $11.00 in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Sonos has a consensus rating of “Hold” and a consensus target price of $14.25.

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.