Farther Finance Advisors LLC Sells 2,890 Shares of Sonos, Inc. (NASDAQ:SONO)

Farther Finance Advisors LLC lessened its holdings in Sonos, Inc. (NASDAQ:SONO) by 37.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,801 shares of the company’s stock after selling 2,890 shares during the period. Farther Finance Advisors LLC’s holdings in Sonos were worth $59,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SONO. Covestor Ltd raised its stake in Sonos by 376.7% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after acquiring an additional 1,571 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sonos during the 2nd quarter worth approximately $46,000. Quest Partners LLC raised its stake in Sonos by 138.8% during the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after acquiring an additional 2,819 shares during the period. nVerses Capital LLC bought a new stake in Sonos during the 2nd quarter worth approximately $81,000. Finally, International Assets Investment Management LLC raised its stake in Sonos by 927.0% during the 3rd quarter. International Assets Investment Management LLC now owns 7,497 shares of the company’s stock worth $92,000 after acquiring an additional 6,767 shares during the period. Institutional investors own 85.82% of the company’s stock.

Insider Buying and Selling

In related news, insider Shamayne Braman sold 6,438 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $11.56, for a total value of $74,423.28. Following the sale, the insider now owns 26,588 shares in the company, valued at approximately $307,357.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SONO. Morgan Stanley cut shares of Sonos from an “overweight” rating to an “underweight” rating and reduced their price objective for the company 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 reduced their price objective for the company from $25.00 to $10.00 in a research report on Thursday, August 8th.

Sonos Trading Up 0.1 %

Sonos stock opened at $14.08 on Thursday. Sonos, Inc. has a 1 year low of $10.23 and a 1 year high of $19.76. The firm’s 50 day moving average price is $12.46 and its 200-day moving average price is $13.78.

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.