Thrivent Financial for Lutherans Sells 6,998 Shares of Sonos, Inc. (NASDAQ:SONO)

Thrivent Financial for Lutherans cut its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,028 shares of the company’s stock after selling 6,998 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Sonos worth $1,168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Gladius Capital Management LP purchased a new stake in Sonos during the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sonos during the 2nd quarter valued at about $46,000. KBC Group NV increased its position in shares of Sonos by 52.5% during the 3rd quarter. KBC Group NV now owns 4,852 shares of the company’s stock valued at $60,000 after purchasing an additional 1,670 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Sonos by 138.8% in the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after purchasing an additional 2,819 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of Sonos in the 2nd quarter worth approximately $81,000. 85.82% of the stock is owned by institutional investors.

Sonos Trading Down 0.2 %

Sonos stock opened at $13.61 on Monday. 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 firm has a 50 day moving average of $12.86 and a 200 day moving average of $13.44.

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

Wall Street Analyst Weigh In

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

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.