Vontobel Holding Ltd. Reduces Stock Position in Sonos, Inc. (NASDAQ:SONO)

Vontobel Holding Ltd. trimmed its position in Sonos, Inc. (NASDAQ:SONO) by 55.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,000 shares of the company’s stock after selling 17,148 shares during the quarter. Vontobel Holding Ltd.’s holdings in Sonos were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Entropy Technologies LP purchased a new stake in shares of Sonos in the 4th quarter worth $177,000. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of Sonos by 0.9% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,671,113 shares of the company’s stock worth $25,134,000 after buying an additional 15,171 shares during the period. Highland Capital Management LLC purchased a new stake in shares of Sonos in the 4th quarter worth $243,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Sonos by 1.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 382,575 shares of the company’s stock worth $5,754,000 after buying an additional 5,281 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Sonos by 52.6% in the 4th quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $111,000 after buying an additional 2,551 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Sonos Price Performance

Shares of NASDAQ SONO opened at $11.93 on Friday. The stock has a market capitalization of $1.42 billion, a P/E ratio of -20.93 and a beta of 1.97. Sonos, Inc. has a 1-year low of $10.23 and a 1-year high of $19.76. The business has a fifty day moving average price of $14.19 and a 200 day moving average price of $13.17.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. As a group, equities research analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Sonos in a report on Friday, February 7th.

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.