Sonos, Inc. (NASDAQ:SONO) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board reduced its stake in Sonos, Inc. (NASDAQ:SONO) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 256,773 shares of the company’s stock after selling 13,600 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of Sonos worth $3,156,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in shares of Sonos in the 3rd quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sonos in the second quarter valued at approximately $46,000. Quest Partners LLC lifted its stake in Sonos by 138.8% during the second quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after purchasing an additional 2,819 shares in the last quarter. KBC Group NV boosted its position in shares of Sonos by 52.5% during the third quarter. KBC Group NV now owns 4,852 shares of the company’s stock worth $60,000 after buying an additional 1,670 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Sonos in the second quarter valued at $81,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Trading Up 0.8 %

Shares of NASDAQ SONO opened at $14.19 on Wednesday. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76. The stock has a market cap of $1.73 billion, a P/E ratio of -43.00 and a beta of 2.04. The business’s fifty day simple moving average is $12.92 and its 200-day simple moving average is $13.40.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The company had revenue of $255.38 million during the quarter, compared to analyst estimates of $247.92 million. During the same period in the prior year, the business earned ($0.21) EPS. Sonos’s revenue for the quarter was down 16.3% on a year-over-year basis. On average, equities analysts forecast that Sonos, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and lowered their target price for the company from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum lowered shares of Sonos from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $10.00 in a research note on Thursday, August 8th.

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.