Peloton Wealth Strategists Reduces Position in Sonos, Inc. (NASDAQ:SONO)

Peloton Wealth Strategists cut its holdings in shares of Sonos, Inc. (NASDAQ:SONOFree Report) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,810 shares of the company’s stock after selling 7,500 shares during the period. Peloton Wealth Strategists’ holdings in Sonos were worth $648,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC purchased a new position in Sonos in the fourth quarter worth about $35,000. U.S. Capital Wealth Advisors LLC purchased a new position in Sonos in the fourth quarter worth about $175,000. Cerity Partners LLC bought a new position in shares of Sonos in the fourth quarter worth about $239,000. Algert Global LLC bought a new position in shares of Sonos in the third quarter worth about $186,000. Finally, International Assets Investment Management LLC raised its stake 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 buying an additional 14,687 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Maxime Bouvat-Merlin sold 40,222 shares of Sonos stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $16.54, for a total value of $665,271.88. Following the completion of the transaction, the insider now owns 24,650 shares in the company, valued at approximately $407,711. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Maxime Bouvat-Merlin sold 40,222 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $16.54, for a total transaction of $665,271.88. Following the completion of the transaction, the insider now owns 24,650 shares in the company, valued at approximately $407,711. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Mason sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $17.57, for a total value of $351,400.00. Following the transaction, the insider now owns 122,009 shares of the company’s stock, valued at approximately $2,143,698.13. The disclosure for this sale can be found here. Insiders have sold a total of 82,032 shares of company stock valued at $1,402,005 in the last quarter. 3.30% of the stock is currently owned by insiders.

Sonos Trading Down 3.9 %

SONO traded down $0.61 on Friday, hitting $15.12. 635,989 shares of the company’s stock traded hands, compared to its average volume of 1,833,334. The company’s 50 day simple moving average is $16.77 and its 200-day simple moving average is $17.20. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -44.94 and a beta of 1.99. Sonos, Inc. has a one year low of $9.78 and a one year high of $19.76.

Sonos (NASDAQ:SONOGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.08). Sonos had a negative return on equity of 0.44% and a negative net margin of 2.82%. The firm had revenue of $252.66 million during the quarter, compared to the consensus estimate of $246.48 million. As a group, equities analysts anticipate that Sonos, Inc. will post 0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Sonos in a research note on Monday, March 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Read Our Latest Report on Sonos

Sonos Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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