Macquarie Group Ltd. increased its holdings in shares of Sonos, Inc. (NASDAQ:SONO – Get Rating) by 74.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,107 shares of the company’s stock after acquiring an additional 72,813 shares during the period. Macquarie Group Ltd. owned approximately 0.13% of Sonos worth $2,399,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SONO. Raymond James Financial Services Advisors Inc. grew its holdings in Sonos by 9.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,381 shares of the company’s stock worth $970,000 after acquiring an additional 2,830 shares during the period. US Bancorp DE grew its holdings in Sonos by 30.9% during the first quarter. US Bancorp DE now owns 4,646 shares of the company’s stock worth $131,000 after acquiring an additional 1,098 shares during the period. Citigroup Inc. grew its holdings in Sonos by 60.1% during the first quarter. Citigroup Inc. now owns 152,623 shares of the company’s stock worth $4,307,000 after acquiring an additional 57,289 shares during the period. MetLife Investment Management LLC grew its holdings in Sonos by 62.3% during the first quarter. MetLife Investment Management LLC now owns 67,650 shares of the company’s stock worth $1,909,000 after acquiring an additional 25,963 shares during the period. Finally, Rhumbline Advisers boosted its position in Sonos by 162.6% during the first quarter. Rhumbline Advisers now owns 325,035 shares of the company’s stock worth $9,172,000 after purchasing an additional 201,273 shares in the last quarter. Institutional investors and hedge funds own 85.64% of the company’s stock.
Insider Activity
In other news, Director Joanna Coles sold 5,430 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $20.55, for a total value of $111,586.50. Following the sale, the director now directly owns 15,667 shares in the company, valued at $321,956.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Edward P. Lazarus sold 13,220 shares of the stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $20.70, for a total transaction of $273,654.00. Following the transaction, the chief financial officer now directly owns 176,290 shares in the company, valued at $3,649,203. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joanna Coles sold 5,430 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $20.55, for a total value of $111,586.50. Following the transaction, the director now owns 15,667 shares in the company, valued at $321,956.85. The disclosure for this sale can be found here. Insiders have sold 60,548 shares of company stock worth $1,228,647 over the last three months. 3.13% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have commented on the company. 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 report on Thursday, February 9th. DA Davidson decreased their target price on Sonos to $26.00 in a research report on Thursday, December 1st.
Sonos Stock Down 0.8 %
Shares of NASDAQ:SONO opened at $19.63 on Friday. Sonos, Inc. has a 52-week low of $13.65 and a 52-week high of $31.22. The stock’s fifty day simple moving average is $18.96 and its 200-day simple moving average is $16.97. The company has a market capitalization of $2.50 billion, a P/E ratio of 151.01, a P/E/G ratio of 14.73 and a beta of 1.86.
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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