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JPMorgan Chase & Co. grew its position in Sonos, Inc. (NASDAQ:SONO – Get Rating) by 8.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,631,867 shares of the company’s stock after buying an additional 280,237 shares during the period. JPMorgan Chase & Co. owned approximately 2.85% of Sonos worth $61,378,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in shares of Sonos by 74.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock valued at $25,000 after buying an additional 777 shares during the period. First Manhattan Co. acquired a new position in shares of Sonos in the 1st quarter valued at $36,000. Performa Ltd US LLC grew its holdings in shares of Sonos by 100.0% in the 3rd quarter. Performa Ltd US LLC now owns 2,700 shares of the company’s stock valued at $38,000 after buying an additional 1,350 shares during the period. Eagle Bay Advisors LLC grew its holdings in shares of Sonos by 2,622.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,232 shares of the company’s stock valued at $38,000 after buying an additional 2,150 shares during the period. Finally, Sit Investment Associates Inc. acquired a new position in shares of Sonos in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 85.64% of the company’s stock.
Insider Activity
In other news, Director Thomas Conrad sold 12,792 shares of the company’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $19.24, for a total value of $246,118.08. Following the sale, the director now directly owns 42,671 shares of the company’s stock, valued at approximately $820,990.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sonos news, insider Maxime Bouvat-Merlin sold 6,060 shares of the stock in a transaction dated 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 directly owns 29,177 shares of the company’s stock, valued at approximately $449,617.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Conrad sold 12,792 shares of the stock in a transaction dated Monday, March 27th. The shares were 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 $820,990.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,567 shares of company stock valued at $390,083. 3.13% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
SONO has been the subject of several research analyst reports. Morgan Stanley boosted 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 reduced their target price on shares of Sonos from $26.00 to $24.00 in a research note on Thursday, May 11th.
Sonos Stock Performance
Sonos stock opened at $15.90 on Thursday. The firm has a 50-day moving average of $18.37 and a 200-day moving average of $18.46. Sonos, Inc. has a one year low of $13.65 and a one year high of $24.56.
Sonos Company Profile
(Get Rating)
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.
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