NBW Capital LLC Sells 9,422 Shares of Sonos, Inc. (NASDAQ:SONO)

NBW Capital LLC cut its stake in Sonos, Inc. (NASDAQ:SONO) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,133 shares of the company’s stock after selling 9,422 shares during the period. NBW Capital LLC owned about 0.13% of Sonos worth $2,693,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Louisiana State Employees Retirement System bought a new position in shares of Sonos in the fourth quarter worth about $1,100,000. NewEdge Wealth LLC bought a new position in shares of Sonos in the fourth quarter worth about $7,453,000. Friedenthal Financial bought a new position in shares of Sonos in the fourth quarter worth about $733,000. Cerity Partners LLC bought a new position in shares of Sonos in the fourth quarter worth about $239,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Sonos by 1,614.0% in the fourth quarter. International Assets Investment Management LLC now owns 15,597 shares of the company’s stock worth $267,000 after purchasing an additional 14,687 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sonos

In other Sonos news, Director Thomas Conrad sold 5,337 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the completion of the sale, the director now directly owns 37,334 shares of the company’s stock, valued at $683,585.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Thomas Conrad sold 5,337 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the transaction, the director now owns 37,334 shares in the company, valued at $683,585.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Scott Mason sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total transaction of $352,400.00. Following the transaction, the insider now owns 119,179 shares in the company, valued at approximately $2,099,933.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,147 shares of company stock valued at $484,972. 3.30% of the stock is currently owned by insiders.

Sonos Price Performance

Shares of SONO stock traded down $0.09 during mid-day trading on Thursday, hitting $16.89. 523,132 shares of the stock traded hands, compared to its average volume of 2,003,348. The stock has a market cap of $2.09 billion, a P/E ratio of -565.81 and a beta of 1.99. The stock’s fifty day moving average is $18.57 and its two-hundred day moving average is $15.86. Sonos, Inc. has a 52-week low of $9.78 and a 52-week high of $21.98.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.47 by $0.22. The business had revenue of $612.87 million during the quarter, compared to analyst estimates of $588.96 million. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. As a group, equities analysts forecast that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SONO. Rosenblatt Securities restated a “buy” rating and issued a $24.00 price target on shares of Sonos in a report on Monday, March 25th. TheStreet raised shares of Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley upped their price objective on shares of Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Sonos presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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.