Mirae Asset Global Investments Co. Ltd. trimmed its stake in Sonos, Inc. (NASDAQ:SONO – Get Rating) by 20.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,015 shares of the company’s stock after selling 69,849 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.22% of Sonos worth $4,641,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. First Trust Advisors LP raised its position in shares of Sonos by 177.1% in the 4th quarter. First Trust Advisors LP now owns 87,778 shares of the company’s stock worth $1,483,000 after acquiring an additional 56,097 shares in the last quarter. Victory Capital Management Inc. grew its stake in Sonos by 70.9% during the 4th quarter. Victory Capital Management Inc. now owns 382,782 shares of the company’s stock worth $6,526,000 after buying an additional 158,852 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Sonos by 15.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,433,091 shares of the company’s stock worth $24,218,000 after buying an additional 192,348 shares during the last quarter. Principal Financial Group Inc. grew its stake in Sonos by 5.6% during the 4th quarter. Principal Financial Group Inc. now owns 1,290,188 shares of the company’s stock worth $21,804,000 after buying an additional 68,858 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its stake in Sonos by 64.6% during the 4th quarter. Belpointe Asset Management LLC now owns 11,813 shares of the company’s stock worth $200,000 after buying an additional 4,636 shares during the last quarter. 85.64% of the stock is owned by institutional investors.
Analysts Set New Price Targets
SONO has been the topic of several research analyst reports. Morgan Stanley boosted their target price on Sonos from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 9th. DA Davidson dropped their target price on Sonos from $26.00 to $24.00 in a research note on Thursday, May 11th.
Insider Activity
In other news, Director Thomas Conrad sold 12,792 shares of the stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $19.24, for a total value of $246,118.08. Following the transaction, the director now directly owns 42,671 shares of the company’s stock, valued at $820,990.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Maxime Bouvat-Merlin sold 6,060 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.41, for a total transaction of $93,384.60. Following the sale, the insider now directly owns 29,177 shares of the company’s stock, valued at $449,617.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Conrad sold 12,792 shares of the firm’s stock in a transaction dated Monday, March 27th. The stock was 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 in the company, valued at $820,990.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,662 shares of company stock valued at $376,508. Company insiders own 3.13% of the company’s stock.
Sonos Price Performance
Shares of SONO stock opened at $15.08 on Wednesday. The stock’s 50-day simple moving average is $19.31 and its 200-day simple moving average is $18.61. Sonos, Inc. has a fifty-two week low of $13.65 and a fifty-two week 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.
Further Reading
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