42,300 shares of Sonos, Inc. (NASDAQ:SONO) bought by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC acquired a new position in Sonos, Inc. (NASDAQ:SONO – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,300 shares of the company’s stock, valued at approximately $686,000.

A number of other institutional investors have also recently modified their holdings of the company. Covestor Ltd boosted its position in shares of Sonos by 376.7% in the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after buying an additional 1,571 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sonos in the second quarter valued at about $46,000. Quest Partners LLC boosted its position in shares of Sonos by 138.8% during the second quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after buying an additional 2,819 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Sonos in the second quarter valued at about $81,000. Finally, Quent Capital LLC bought a new position in shares of Sonos in the first quarter worth about $95,000. Institutional investors own 85.82% of the company’s shares.

Analyst upgrades and downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley cut shares of Sonos from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum cut shares of Sonos from a “buy” rating to a “hold” rating and cut their price target for the stock from $25.00 to $10.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.25.

Get our latest Sonos review

Indoor activity

In other news, insider Christopher Scott Mason sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $14.45, for a total transaction of $144,500.00. Following the sale, the insider now owns 122,009 shares in the company, valued at approximately $1,763,030.05. The transaction was disclosed in a filing with the SEC, which is accessible via this link. In other news, insider Christopher Scott Mason sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $14.45, for a total transaction of $144,500.00. Following the sale, the insider now owns 122,009 shares in the company, valued at approximately $1,763,030.05. The transaction was disclosed in a filing with the SEC, which is accessible via this link. Also, insider Shamayne Braman sold 6,438 shares of Sonos stock in a transaction on Friday, August 16th. The shares were sold at an average price of $11.56, for a total transaction of $74,423.28. Following the completion of the transaction, the insider now owns 26,588 shares in the company, valued at approximately $307,357.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,343 shares of company stock worth $232,498. 3.30% of shares are currently owned by corporate insiders.

Sonos price performance

Shares of NASDAQ:SONO opened at $11.81 on Wednesday. The firm has a fifty day moving average price of $12.13 and a two hundred day moving average price of $14.91. Sonos, Inc. it has a one year low of $9.78 and a one year high of $19.76. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -33.74 and a beta of 2.04.

Sonos (NASDAQ:SONO – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $397.15 million for the quarter, compared to analysts’ expectations of $391.23 million. Sonos had a negative net margin of 1.04% and a positive return on equity of 0.42%. The company’s quarterly revenue was up 6.4% year over year. In the same quarter last year, the company posted EPS of $0.02. Equities research analysts expect that Sonos, Inc. to record -0.29 EPS for the current fiscal year.

Sonos profile

(Free Report)

Sonos, Inc., together with its subsidiaries, designs, develops, manufactures and sells audio products and services in the Americas, Europe, the Middle East, Africa and Asia Pacific. 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 home audio installers; and e-retail as well as through its website.

Featured stories

Want to see what other hedge funds SONO owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Sonos, Inc. (NASDAQ:SONO – Free Report).

Get news and reviews for Sonos Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Sonos and related companies with MarketBeat.com’s FREE daily email newsletter.