HighTower Advisors LLC Has $587,000 Stake in Sonos, Inc. (NASDAQ:SONO)

HighTower Advisors LLC cut its stake in Sonos, Inc. (NASDAQ:SONO) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,010 shares of the company’s stock after selling 786 shares during the period. HighTower Advisors LLC’s holdings in Sonos were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Separately, Morgan Stanley downgraded shares of Sonos from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $25.00 to $11.00 in a report on Thursday, September 26th.

Sonos Stock Performance

NASDAQ:SONO opened at $14.41 on Friday. Sonos, Inc. has a 52-week low of $10.23 and a 52-week high of $19.76. The company has a market cap of $1.75 billion, a P/E ratio of -43.67 and a beta of 2.04. The stock’s 50-day simple moving average is $13.52 and its 200 day simple moving average is $13.30.

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 the consensus estimate 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 firm’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. As a group, equities analysts predict that Sonos, Inc. will post -0.3 earnings per share for the current fiscal year.

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.