UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.04 Million Stake in Sonos, Inc. $SONO

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 15.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 224,479 shares of the company’s stock after selling 41,921 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of Sonos worth $3,037,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SONO. Hantz Financial Services Inc. grew its position in Sonos by 307.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock worth $31,000 after buying an additional 1,330 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Sonos by 699.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock valued at $36,000 after acquiring an additional 1,798 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Sonos in the 4th quarter valued at approximately $50,000. Quarry LP lifted its position in shares of Sonos by 485.8% in the 3rd quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after acquiring an additional 2,696 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Sonos in the 2nd quarter worth approximately $59,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Transactions at Sonos

In other Sonos news, Director Julius Genachowski sold 19,855 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total transaction of $337,535.00. Following the sale, the director directly owned 53,775 shares of the company’s stock, valued at approximately $914,175. This represents a 26.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $15.39, for a total transaction of $153,900.00. Following the sale, the director directly owned 84,271 shares of the company’s stock, valued at approximately $1,296,930.69. The trade was a 10.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is owned by insiders.

Analyst Ratings Changes

SONO has been the topic of several recent research reports. Weiss Ratings raised Sonos from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 target price on shares of Sonos in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Sonos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Sonos presently has an average rating of “Hold” and an average target price of $20.00.

Sonos Stock Performance

Shares of NASDAQ SONO opened at $14.63 on Friday. Sonos, Inc. has a 52-week low of $12.44 and a 52-week high of $19.82. The business has a fifty day moving average of $15.23 and a two-hundred day moving average of $14.71. The stock has a market cap of $1.73 billion, a PE ratio of 32.51 and a beta of 1.93.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.23. The business had revenue of $375.26 million for the quarter, compared to analyst estimates of $365.65 million. Sonos had a net margin of 3.82% and a return on equity of 19.10%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. Analysts predict that Sonos, Inc. will post 0.69 earnings per share for the current year.

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.