81,391 Shares in Sonos, Inc. (NASDAQ:SONO) Bought by Duality Advisers LP

Duality Advisers LP purchased a new stake in Sonos, Inc. (NASDAQ:SONO) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 81,391 shares of the company’s stock, valued at approximately $1,395,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Sonos in the third quarter valued at approximately $826,000. Exchange Traded Concepts LLC acquired a new stake in shares of Sonos in the 3rd quarter valued at $173,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sonos by 7.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,297 shares of the company’s stock worth $1,037,000 after purchasing an additional 5,892 shares during the last quarter. Meitav Investment House Ltd. grew its stake in shares of Sonos by 9.5% during the third quarter. Meitav Investment House Ltd. now owns 230,689 shares of the company’s stock worth $2,945,000 after purchasing an additional 20,100 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Sonos by 0.9% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,013,939 shares of the company’s stock worth $13,090,000 after purchasing an additional 8,802 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Buying and Selling at Sonos

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

Sonos Price Performance

Shares of NASDAQ SONO 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 business has a 50-day moving average price of $18.48 and a 200 day moving average price of $16.01.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.22. The business had revenue of $612.87 million during 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%. As a group, sell-side analysts expect that Sonos, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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