Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sonos, Inc. (NASDAQ:SONO – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 467,112 shares of the company’s stock, valued at approximately $13,182,000. Mirae Asset Global Investments Co. Ltd. owned about 0.37% of Sonos as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Sonos by 77.4% in the first quarter. BlackRock Inc. now owns 22,364,298 shares of the company’s stock valued at $631,123,000 after purchasing an additional 9,759,359 shares during the last quarter. Vanguard Group Inc. grew its position in Sonos by 16.6% during the first quarter. Vanguard Group Inc. now owns 13,604,113 shares of the company’s stock worth $383,908,000 after buying an additional 1,933,485 shares in the last quarter. State Street Corp grew its position in Sonos by 76.7% during the first quarter. State Street Corp now owns 4,176,588 shares of the company’s stock worth $117,863,000 after buying an additional 1,812,340 shares in the last quarter. Millennium Management LLC lifted its stake in Sonos by 147.6% during the fourth quarter. Millennium Management LLC now owns 2,559,845 shares of the company’s stock worth $76,283,000 after purchasing an additional 1,525,876 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Sonos by 42.9% during the first quarter. American Century Companies Inc. now owns 4,664,749 shares of the company’s stock worth $131,639,000 after purchasing an additional 1,401,467 shares during the last quarter. Institutional investors and hedge funds own 90.91% of the company’s stock.
Sonos Stock Up 0.3 %
NASDAQ SONO opened at $15.42 on Tuesday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 3.00 and a beta of 2.00. Sonos, Inc. has a twelve month low of $14.52 and a twelve month high of $37.48. The stock has a fifty day simple moving average of $18.16 and a 200 day simple moving average of $21.32.
Insider Activity at Sonos
Wall Street Analysts Forecast Growth
Several research firms have weighed in on SONO. DA Davidson cut their target price on Sonos to $29.00 in a research note on Monday, August 15th. Morgan Stanley dropped their price target on Sonos from $28.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, August 11th. Jefferies Financial Group dropped their price target on Sonos from $45.00 to $35.00 in a research note on Tuesday, May 31st. Finally, Stifel Nicolaus dropped their price target on Sonos from $24.00 to $20.00 and set a “hold” rating for the company in a research note on Thursday, August 11th.
Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.
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