KBC Group NV Boosts Holdings in Sonos, Inc. (NASDAQ:SONO)

KBC Group NV boosted its position in Sonos, Inc. (NASDAQ:SONO) by 52.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,852 shares of the company’s stock after acquiring an additional 1,670 shares during the quarter. KBC Group NV’s holdings in Sonos were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SONO. Vanguard Group Inc. boosted its stake in shares of Sonos by 1.2% in the first quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock valued at $271,627,000 after purchasing an additional 163,736 shares during the period. Pacer Advisors Inc. increased its position 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 buying an additional 699,975 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Sonos by 10.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,890,787 shares of the company’s stock valued at $55,098,000 after purchasing an additional 266,748 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Sonos by 8.6% during the second 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 period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Sonos by 10.0% in the second 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. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Price Performance

Shares of NASDAQ SONO opened at $13.49 on Friday. The company has a market capitalization of $1.64 billion, a P/E ratio of -40.88 and a beta of 2.04. The business’s 50-day moving average price is $12.74 and its two-hundred day moving average price is $13.58. Sonos, Inc. has a one year low of $10.23 and a one year high of $19.76.

Sonos (NASDAQ:SONO) last posted its 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 the consensus estimate of $247.92 million. Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. Sonos’s quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share. On average, equities analysts anticipate that Sonos, Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SONO. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum lowered 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.

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.