Sonos, Inc. (NASDAQ:SONO) Shares Acquired by KBC Group NV

KBC Group NV boosted its position in Sonos, Inc. (NASDAQ:SONO) by 52.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,403 shares of the company’s stock after buying an additional 2,551 shares during the quarter. KBC Group NV’s holdings in Sonos were worth $111,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Sonos by 23.4% in the third quarter. Wellington Management Group LLP now owns 3,303,017 shares of the company’s stock valued at $40,594,000 after purchasing an additional 626,172 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Sonos by 67.9% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,655,942 shares of the company’s stock valued at $20,352,000 after purchasing an additional 669,658 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Sonos by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,578,776 shares of the company’s stock valued at $19,403,000 after buying an additional 12,719 shares during the last quarter. Barclays PLC grew its position in shares of Sonos by 120.3% during the third quarter. Barclays PLC now owns 923,437 shares of the company’s stock worth $11,350,000 after buying an additional 504,293 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in shares of Sonos by 19.0% in the third quarter. Systematic Financial Management LP now owns 910,354 shares of the company’s stock worth $11,188,000 after buying an additional 145,091 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Sonos Stock Down 7.5 %

NASDAQ:SONO opened at $13.88 on Friday. The company has a market cap of $1.67 billion, a PE ratio of -42.06 and a beta of 1.97. The business’s 50 day moving average is $14.44 and its two-hundred day moving average is $13.19. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. As a group, sell-side analysts expect that Sonos, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $18.00 price objective on shares of Sonos in a research note on Friday.

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.