GFS Advisors LLC Boosts Holdings in Sonos, Inc. (NASDAQ:SONO)

GFS Advisors LLC raised its position in Sonos, Inc. (NASDAQ:SONO) by 207.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the company’s stock after purchasing an additional 67,463 shares during the period. GFS Advisors LLC owned 0.08% of Sonos worth $1,229,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Sonos during the 1st quarter valued at approximately $492,000. Quent Capital LLC bought a new stake in Sonos during the 1st quarter valued at approximately $95,000. Daiwa Securities Group Inc. purchased a new position in shares of Sonos during the 1st quarter worth approximately $442,000. Texas Permanent School Fund Corp raised its position in shares of Sonos by 2.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 108,386 shares of the company’s stock worth $2,066,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of Sonos in the 1st quarter valued at approximately $1,402,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Craig Hallum lowered shares of Sonos from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $10.00 in a report on Thursday, August 8th. Morgan Stanley lowered shares of Sonos from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $25.00 to $11.00 in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.25.

Insider Transactions at Sonos

In other Sonos news, insider Shamayne Braman sold 6,438 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $11.56, for a total transaction of $74,423.28. Following the transaction, the insider now owns 26,588 shares in the company, valued at approximately $307,357.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.30% of the company’s stock.

Sonos Price Performance

Shares of NASDAQ SONO opened at $12.80 on Friday. Sonos, Inc. has a 1 year low of $10.10 and a 1 year high of $19.76. The firm has a fifty day moving average price of $12.21 and a 200-day moving average price of $13.96. The stock has a market cap of $1.55 billion, a PE ratio of -91.42 and a beta of 2.04.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $397.15 million for the quarter, compared to the consensus estimate of $391.23 million. Sonos had a negative net margin of 1.04% and a positive return on equity of 0.42%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. On average, research analysts expect that Sonos, Inc. will post -0.28 EPS for the current year.

Sonos 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.