California Public Employees Retirement System decreased its holdings in Sonos, Inc. (NASDAQ:SONO – Get Rating) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,623 shares of the company’s stock after selling 32,087 shares during the quarter. California Public Employees Retirement System owned 0.20% of Sonos worth $4,219,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of Sonos by 7.2% in the third quarter. SG Americas Securities LLC now owns 14,376 shares of the company’s stock worth $200,000 after buying an additional 963 shares during the last quarter. Twinbeech Capital LP boosted its holdings in shares of Sonos by 169.6% in the third quarter. Twinbeech Capital LP now owns 162,955 shares of the company’s stock worth $2,265,000 after buying an additional 102,509 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Sonos in the third quarter worth approximately $161,000. Total Clarity Wealth Management Inc. purchased a new position in Sonos during the third quarter valued at approximately $255,000. Finally, Trigran Investments Inc. lifted its holdings in Sonos by 53.1% during the third quarter. Trigran Investments Inc. now owns 4,696,897 shares of the company’s stock valued at $65,287,000 after purchasing an additional 1,629,540 shares in the last quarter. Hedge funds and other institutional investors own 85.64% of the company’s stock.
Insider Transactions at Sonos
In other news, Director Thomas Conrad sold 12,792 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $19.24, for a total value of $246,118.08. Following the transaction, the director now owns 42,671 shares of the company’s stock, valued at $820,990.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Maxime Bouvat-Merlin sold 6,060 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $15.41, for a total value of $93,384.60. Following the transaction, the insider now owns 29,177 shares of the company’s stock, valued at $449,617.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Conrad sold 12,792 shares of the business’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $19.24, for a total transaction of $246,118.08. Following the completion of the transaction, the director now directly owns 42,671 shares in the company, valued at approximately $820,990.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,662 shares of company stock valued at $376,508. 3.13% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
SONO has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Sonos from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, February 9th. DA Davidson lowered their price target on shares of Sonos from $26.00 to $24.00 in a report on Thursday, May 11th.
Sonos Price Performance
Shares of NASDAQ:SONO opened at $15.21 on Friday. Sonos, Inc. has a 1-year low of $13.65 and a 1-year high of $24.56. The firm’s 50 day simple moving average is $19.56 and its two-hundred day simple moving average is $18.58. The company has a market capitalization of $1.95 billion, a P/E ratio of -89.47, a P/E/G ratio of 51.03 and a beta of 1.85.
About Sonos
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Sonos, Inc engages in the provision of multi-room wireless smart home sound systems. It supports streaming services around the world, providing customers with access to music, Internet radio, podcasts and audiobooks, with control from Android smartphones, iPhone or iPad. The company was founded by Mai Trung, John MacFarlane, Craig A.
Further Reading
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