Sonos, Inc. (NASDAQ:SONO) Shares Acquired by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. boosted its stake in Sonos, Inc. (NASDAQ:SONO) by 55.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,921 shares of the company’s stock after acquiring an additional 100,419 shares during the period. Landscape Capital Management L.L.C. owned 0.23% of Sonos worth $3,440,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SONO. Gladius Capital Management LP acquired a new stake in shares of Sonos in the 3rd quarter valued at about $30,000. Covestor Ltd lifted its holdings in Sonos by 376.7% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after buying an additional 1,571 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sonos in the 2nd quarter worth approximately $46,000. KBC Group NV grew its position in shares of Sonos by 52.5% in the 3rd quarter. KBC Group NV now owns 4,852 shares of the company’s stock worth $60,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Sonos by 138.8% in the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock valued at $72,000 after acquiring an additional 2,819 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SONO has been the subject of a number of research reports. Morgan Stanley downgraded shares of Sonos from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $10.00 in a research report on Thursday, August 8th.

Sonos Stock Performance

SONO stock opened at $12.95 on Thursday. Sonos, Inc. has a 1 year low of $10.23 and a 1 year high of $19.76. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -39.24 and a beta of 2.04. The stock’s fifty day moving average is $12.66 and its two-hundred day moving average is $13.64.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). The firm had revenue of $255.38 million for the quarter, compared to analyst estimates of $247.92 million. Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) earnings per share. As a group, analysts predict that Sonos, Inc. will post -0.3 EPS for the current fiscal 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.