GSA Capital Partners LLP Sells 24,659 Shares of Sonos, Inc. (NASDAQ:SONO)

GSA Capital Partners LLP lowered its holdings in Sonos, Inc. (NASDAQ:SONO) by 52.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,420 shares of the company’s stock after selling 24,659 shares during the quarter. GSA Capital Partners LLP’s holdings in Sonos were worth $276,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SONO. Robeco Institutional Asset Management B.V. increased its position in Sonos by 535.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 377,294 shares of the company’s stock worth $4,637,000 after acquiring an additional 317,945 shares during the period. GFS Advisors LLC increased its holdings in shares of Sonos by 207.3% during the 3rd quarter. GFS Advisors LLC now owns 100,000 shares of the company’s stock worth $1,229,000 after purchasing an additional 67,463 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Sonos by 3.3% during the third quarter. Harbor Capital Advisors Inc. now owns 39,381 shares of the company’s stock valued at $484,000 after buying an additional 1,267 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in Sonos by 67.9% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,655,942 shares of the company’s stock worth $20,352,000 after buying an additional 669,658 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Sonos by 37.7% during the third quarter. New York State Teachers Retirement System now owns 42,859 shares of the company’s stock valued at $527,000 after acquiring an additional 11,735 shares during the period. 85.82% of the stock is owned by institutional investors.

Sonos Stock Down 0.1 %

Shares of SONO stock opened at $13.49 on Friday. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -40.88 and a beta of 2.04. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76. The firm has a fifty day moving average of $12.74 and a 200-day moving average of $13.58.

Sonos (NASDAQ:SONO) last issued 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 company 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% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Research analysts expect that Sonos, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SONO. Morgan Stanley lowered shares of Sonos from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum lowered Sonos from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $10.00 in a research report on Thursday, August 8th.

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.