Teachers Retirement System of The State of Kentucky acquired a new stake in Sonos, Inc. (NASDAQ:SONO – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,500 shares of the company's stock, valued at approximately $691,000.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Sonos by 27.9% in the 1st quarter. Bank of America Corp DE now owns 2,068,949 shares of the company's stock valued at $58,386,000 after buying an additional 451,816 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sonos in the 1st quarter valued at about $13,182,000. Connors Investor Services Inc. lifted its holdings in shares of Sonos by 4.7% in the 1st quarter. Connors Investor Services Inc. now owns 145,616 shares of the company's stock valued at $4,109,000 after buying an additional 6,473 shares during the period. First Manhattan Co. acquired a new position in shares of Sonos in the 1st quarter valued at about $36,000. Finally, First Republic Investment Management Inc. lifted its holdings in shares of Sonos by 1.8% in the 1st quarter. First Republic Investment Management Inc. now owns 625,217 shares of the company's stock valued at $17,644,000 after buying an additional 11,106 shares during the period. Institutional investors and hedge funds own 90.91% of the company's stock.
Get Sonos alerts:Sonos Price Performance
Shares of Sonos stock opened at $14.14 on Monday. The business has a 50 day simple moving average of $17.79 and a two-hundred day simple moving average of $21.04. Sonos, Inc. has a 12 month low of $13.84 and a 12 month high of $36.08. The stock has a market capitalization of $1.80 billion, a P/E ratio of 16.44, a PEG ratio of 2.76 and a beta of 2.00.
Analyst Ratings Changes
A number of equities analysts recently weighed in on SONO shares. Jefferies Financial Group reduced their price target on Sonos from $45.00 to $35.00 in a report on Tuesday, May 31st. Morgan Stanley reduced their price target on Sonos from $28.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, August 11th. DA Davidson reduced their price target on Sonos to $29.00 in a report on Monday, August 15th. Finally, Stifel Nicolaus reduced their price target on Sonos from $24.00 to $20.00 and set a "hold" rating for the company in a report on Thursday, August 11th.Insider Buying and Selling at Sonos
In other Sonos news, CEO Patrick Spence sold 65,237 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $18.96, for a total transaction of $1,236,893.52. Following the completion of the transaction, the chief executive officer now owns 727,690 shares of the company's stock, valued at $13,797,002.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 67,047 shares of company stock valued at $1,274,695 over the last quarter. 3.60% of the stock is currently owned by insiders.
Sonos Company Profile
(Get Rating)
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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