Quadrant Capital Group LLC grew its stake in Sonos, Inc. (NASDAQ:SONO – Get Rating) by 339.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,012 shares of the company’s stock after purchasing an additional 2,327 shares during the period. Quadrant Capital Group LLC’s holdings in Sonos were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. First Manhattan Co. bought a new position in Sonos during the 1st quarter worth approximately $36,000. Performa Ltd US LLC increased its stake 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 acquiring an additional 1,350 shares in the last quarter. Islay Capital Management LLC bought a new stake in shares of Sonos in the 2nd quarter valued at $72,000. Covestor Ltd increased its stake in shares of Sonos by 2,100.7% in the 1st quarter. Covestor Ltd now owns 3,125 shares of the company’s stock valued at $88,000 after acquiring an additional 2,983 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Sonos in the 2nd quarter valued at $89,000. 85.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Sonos
In other Sonos news, insider Nicholas Millington sold 41,898 shares of Sonos stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $20.13, for a total transaction of $843,406.74. Following the transaction, the insider now directly owns 294,583 shares of the company’s stock, valued at approximately $5,929,955.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sonos news, insider Nicholas Millington sold 41,898 shares of Sonos stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $20.13, for a total transaction of $843,406.74. Following the transaction, the insider now directly owns 294,583 shares of the company’s stock, valued at approximately $5,929,955.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joanna Coles sold 5,430 shares of Sonos stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $20.55, for a total transaction of $111,586.50. Following the transaction, the director now directly owns 15,667 shares in the company, valued at $321,956.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,548 shares of company stock valued at $1,228,647. 3.13% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Sonos from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, February 9th. DA Davidson lowered their price objective on shares of Sonos to $26.00 in a research note on Thursday, December 1st.
Sonos Trading Up 0.2 %
NASDAQ SONO opened at $19.69 on Friday. The company has a fifty day simple moving average of $18.38 and a 200 day simple moving average of $16.89. Sonos, Inc. has a 12-month low of $13.65 and a 12-month high of $31.22. The company has a market cap of $2.51 billion, a P/E ratio of 151.47, a PEG ratio of 14.06 and a beta of 1.88.
Sonos Company Profile
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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