434,818 Shares in Sonos, Inc. (NASDAQ:SONO) Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new stake in Sonos, Inc. (NASDAQ:SONO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 434,818 shares of the company’s stock, valued at approximately $7,453,000. NewEdge Wealth LLC owned approximately 0.35% of Sonos as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its stake in Sonos by 74.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock valued at $25,000 after buying an additional 777 shares in the last quarter. State of Wyoming purchased a new stake in Sonos in the 2nd quarter valued at approximately $31,000. First Manhattan Co. purchased a new stake in Sonos in the 1st quarter valued at approximately $36,000. Pacific Center for Financial Services purchased a new stake in Sonos in the 1st quarter valued at approximately $39,000. Finally, Money Concepts Capital Corp lifted its stake in shares of Sonos by 3,649.3% during the 4th quarter. Money Concepts Capital Corp now owns 2,812 shares of the company’s stock worth $48,000 after purchasing an additional 2,737 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Stock Down 1.8 %

Shares of SONO stock traded down $0.32 on Friday, reaching $17.48. 1,151,381 shares of the stock were exchanged, compared to its average volume of 1,850,154. The stock has a market cap of $2.16 billion, a P/E ratio of -582.47 and a beta of 1.99. The firm has a 50 day moving average of $18.58 and a two-hundred day moving average of $15.74. Sonos, Inc. has a 1-year low of $9.78 and a 1-year high of $21.98.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.22. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. The firm had revenue of $612.87 million during the quarter, compared to the consensus estimate of $588.96 million. On average, equities research analysts predict that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Sonos

In related news, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. Following the completion of the sale, the insider now directly owns 119,179 shares in the company, valued at approximately $2,099,933.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Thomas Conrad sold 5,337 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $18.31, for a total transaction of $97,720.47. Following the transaction, the director now owns 37,334 shares of the company’s stock, valued at $683,585.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Scott Mason sold 20,000 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $17.62, for a total transaction of $352,400.00. Following the transaction, the insider now directly owns 119,179 shares in the company, valued at approximately $2,099,933.98. The disclosure for this sale can be found here. In the last three months, insiders sold 27,147 shares of company stock worth $484,972. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SONO shares. Morgan Stanley increased their price target on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. TheStreet raised Sonos from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $24.00 price target on shares of Sonos in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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.