114,694 Shares in Sonos, Inc. $SONO Bought by Trexquant Investment LP

Trexquant Investment LP purchased a new position in Sonos, Inc. (NASDAQ:SONO) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 114,694 shares of the company’s stock, valued at approximately $1,224,000.

Several other large investors have also bought and sold shares of SONO. AlphaQuest LLC bought a new position in Sonos during the first quarter valued at about $29,000. Headlands Technologies LLC raised its stake in shares of Sonos by 38.8% in the 1st quarter. Headlands Technologies LLC now owns 7,760 shares of the company’s stock valued at $83,000 after acquiring an additional 2,168 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sonos in the 4th quarter valued at approximately $103,000. Corient IA LLC bought a new position in shares of Sonos in the 1st quarter valued at approximately $107,000. Finally, Centaurus Financial Inc. bought a new position in shares of Sonos in the 4th quarter valued at approximately $108,000. Institutional investors own 85.82% of the company’s stock.

Insider Transactions at Sonos

In other news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $11.21 per share, for a total transaction of $616,550.00. Following the completion of the acquisition, the insider directly owned 14,930,280 shares in the company, valued at approximately $167,368,438.80. This trade represents a 0.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Conrad purchased 92,300 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $11.10 per share, for a total transaction of $1,024,530.00. Following the completion of the acquisition, the chief executive officer owned 242,778 shares of the company’s stock, valued at approximately $2,694,835.80. This represents a 61.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,950,069 shares of company stock valued at $31,713,016. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wall Street Zen raised Sonos from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Rosenblatt Securities restated a “buy” rating and set a $17.00 target price on shares of Sonos in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.67.

Sonos Trading Up 2.2%

NASDAQ:SONO opened at $14.69 on Friday. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $15.89. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -22.60 and a beta of 2.17. The stock has a 50-day moving average price of $11.94 and a two-hundred day moving average price of $10.94.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Sonos had a negative net margin of 5.41% and a negative return on equity of 18.19%. The business had revenue of $344.76 million during the quarter, compared to analyst estimates of $324.66 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue was down 13.2% on a year-over-year basis. Sell-side analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos Company 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.