Connors Investor Services Inc. grew its holdings in Sonos, Inc. (NASDAQ:SONO – Get Rating) by 4.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 145,616 shares of the company's stock after acquiring an additional 6,473 shares during the quarter. Connors Investor Services Inc. owned about 0.11% of Sonos worth $4,109,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Sonos by 71.7% in the 1st quarter. Allworth Financial LP now owns 1,099 shares of the company's stock valued at $31,000 after acquiring an additional 459 shares during the last quarter. KRS Capital Management LLC purchased a new position in shares of Sonos in the 4th quarter valued at about $35,000. First Manhattan Co. purchased a new position in shares of Sonos in the 1st quarter valued at about $36,000. FourThought Financial LLC purchased a new position in shares of Sonos in the 1st quarter valued at about $37,000. Finally, Exane Derivatives purchased a new position in shares of Sonos in the 1st quarter valued at about $72,000. Hedge funds and other institutional investors own 90.91% of the company's stock.

Sonos Trading Down 2.8 %

Shares of SONO stock opened at $15.47 on Wednesday. The business's 50 day moving average is $18.49 and its two-hundred day moving average is $21.65. Sonos, Inc. has a twelve month low of $14.52 and a twelve month high of $37.48. The company has a market capitalization of $1.97 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.13 and a beta of 2.00.

Insider Buying and Selling at Sonos

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SONO shares. DA Davidson dropped their price target on Sonos to $29.00 in a research note on Monday, August 15th. Stifel Nicolaus dropped their price target on Sonos from $24.00 to $20.00 and set a "hold" rating on the stock in a research note on Thursday, August 11th. Jefferies Financial Group dropped their price target on Sonos from $45.00 to $35.00 in a research note on Tuesday, May 31st. Finally, Morgan Stanley dropped their price target on Sonos from $28.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 11th.

Sonos Company Profile

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Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

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