Sonos, Inc. $SONO is Trigran Investments Inc.’s 4th Largest Position

Trigran Investments Inc. cut its stake in Sonos, Inc. (NASDAQ:SONO) by 15.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,542,398 shares of the company’s stock after selling 460,336 shares during the period. Sonos comprises approximately 8.8% of Trigran Investments Inc.’s portfolio, making the stock its 4th largest position. Trigran Investments Inc.’s holdings in Sonos were worth $44,645,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in Sonos by 307.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock worth $31,000 after acquiring an additional 1,330 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Sonos by 699.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock worth $36,000 after acquiring an additional 1,798 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Sonos in the fourth quarter worth $50,000. Quarry LP grew its position in Sonos by 485.8% in the third quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after acquiring an additional 2,696 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new position in Sonos in the fourth quarter worth $66,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Sonos Price Performance

NASDAQ SONO opened at $15.36 on Monday. The company has a 50-day simple moving average of $14.74 and a two-hundred day simple moving average of $15.62. Sonos, Inc. has a 12-month low of $9.65 and a 12-month high of $19.82. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 90.36 and a beta of 1.93.

Insider Transactions at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 125,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average cost of $13.57 per share, for a total transaction of $1,696,250.00. Following the completion of the transaction, the insider directly owned 18,070,762 shares in the company, valued at approximately $245,220,240.34. This represents a 0.70% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on SONO shares. Weiss Ratings upgraded shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Zacks Research lowered shares of Sonos from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 target price on shares of Sonos in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of Sonos from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sonos presently has an average rating of “Hold” and a consensus price target of $20.00.

About Sonos

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.