Duality Advisers LP Takes $1.40 Million Position in Sonos, Inc. (NASDAQ:SONO)

Duality Advisers LP purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 81,391 shares of the company’s stock, valued at approximately $1,395,000. Duality Advisers LP owned 0.07% of Sonos as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Trigran Investments Inc. lifted its holdings in Sonos by 7.0% in the 3rd quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock worth $86,477,000 after purchasing an additional 436,696 shares in the last quarter. Hawk Ridge Capital Management LP grew its holdings in Sonos by 382.6% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 4,097,212 shares of the company’s stock valued at $52,895,000 after buying an additional 3,248,148 shares in the last quarter. Wellington Management Group LLP increased its stake in Sonos by 26.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,741,356 shares of the company’s stock worth $35,391,000 after acquiring an additional 576,939 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Sonos by 11.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,680,619 shares of the company’s stock worth $34,607,000 after buying an additional 278,129 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Sonos by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,312,778 shares of the company’s stock valued at $16,948,000 after purchasing an additional 87,341 shares during the period. Institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sonos Price Performance

Shares of SONO stock opened at $17.71 on Wednesday. Sonos, Inc. has a 52-week low of $9.78 and a 52-week high of $21.98. The company’s 50 day moving average is $18.48 and its 200 day moving average is $16.01.

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 analysts’ consensus estimates of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to the consensus estimate of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. Sell-side analysts expect that Sonos, Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

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

About Sonos

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.