Amalgamated Bank Cuts Stock Position in Sonos, Inc. (NASDAQ:SONO)

Amalgamated Bank decreased its position in shares of Sonos, Inc. (NASDAQ:SONO) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,030 shares of the company’s stock after selling 1,574 shares during the period. Amalgamated Bank’s holdings in Sonos were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Sonos by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock worth $271,627,000 after purchasing an additional 163,736 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Sonos by 24.8% in the second quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company’s stock worth $51,946,000 after acquiring an additional 699,975 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Sonos by 10.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,890,787 shares of the company’s stock worth $55,098,000 after acquiring an additional 266,748 shares during the last quarter. American Century Companies Inc. raised its position in shares of Sonos by 8.6% in the 2nd quarter. American Century Companies Inc. now owns 2,689,118 shares of the company’s stock valued at $39,691,000 after purchasing an additional 212,610 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Sonos by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,659,127 shares of the company’s stock worth $39,248,000 after purchasing an additional 241,700 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SONO. Craig Hallum cut shares of Sonos from a “buy” rating to a “hold” rating and decreased their price target for the stock 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 target price for the stock from $25.00 to $11.00 in a research note on Thursday, September 26th.

Sonos Trading Down 5.1 %

SONO opened at $13.05 on Friday. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76. The firm has a 50 day moving average of $12.57 and a two-hundred day moving average of $13.75. The firm has a market capitalization of $1.58 billion, a PE ratio of -39.55 and a beta of 2.04.

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.