Intech Investment Management LLC Purchases 38,740 Shares of Sonos, Inc. (NASDAQ:SONO)

Intech Investment Management LLC raised its position in Sonos, Inc. (NASDAQ:SONO) by 157.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 63,375 shares of the company’s stock after acquiring an additional 38,740 shares during the period. Intech Investment Management LLC owned about 0.05% of Sonos worth $779,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in Sonos by 24.8% during the second quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company’s stock worth $51,946,000 after purchasing an additional 699,975 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Sonos by 8.6% during the 2nd quarter. American Century Companies Inc. now owns 2,689,118 shares of the company’s stock worth $39,691,000 after buying an additional 212,610 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sonos by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,659,127 shares of the company’s stock valued at $39,248,000 after acquiring an additional 241,700 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Sonos by 21.9% during the second quarter. Victory Capital Management Inc. now owns 1,842,770 shares of the company’s stock worth $27,199,000 after acquiring an additional 331,293 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted 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 valued at $20,352,000 after purchasing an additional 669,658 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Sonos Stock Down 0.2 %

NASDAQ:SONO opened at $13.61 on Friday. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -41.24 and a beta of 2.04. The stock’s 50 day moving average price is $12.86 and its two-hundred day moving average price is $13.49.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The business had revenue of $255.38 million during the quarter, compared to the consensus estimate of $247.92 million. During the same quarter last year, the company posted ($0.21) EPS. The firm’s revenue was down 16.3% on a year-over-year basis. Equities research analysts expect that Sonos, Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

SONO has been the topic of several recent analyst reports. Morgan Stanley lowered Sonos from an “overweight” rating to an “underweight” rating and lowered their price target for the stock from $25.00 to $11.00 in a research report on Thursday, September 26th. Craig Hallum cut shares of Sonos from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $10.00 in a research note 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.