Holocene Advisors LP Takes Position in Sonos, Inc. (NASDAQ:SONO)

Holocene Advisors LP bought a new position in Sonos, Inc. (NASDAQ:SONO) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 115,226 shares of the company’s stock, valued at approximately $1,416,000. Holocene Advisors LP owned about 0.10% of Sonos at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SONO. Pacer Advisors Inc. raised its stake in shares of Sonos by 24.8% in the second quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company’s stock worth $51,946,000 after purchasing an additional 699,975 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Sonos by 67.9% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,655,942 shares of the company’s stock worth $20,352,000 after buying an additional 669,658 shares in the last quarter. LMR Partners LLP purchased a new stake in Sonos in the 3rd quarter valued at $7,412,000. Victory Capital Management Inc. lifted its stake in Sonos by 21.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,842,770 shares of the company’s stock valued at $27,199,000 after acquiring an additional 331,293 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Sonos by 1,725.4% during the 2nd quarter. Renaissance Technologies LLC now owns 337,700 shares of the company’s stock worth $4,984,000 after acquiring an additional 319,200 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley downgraded shares of Sonos from an “overweight” rating to an “underweight” rating and lowered their target price for the company from $25.00 to $11.00 in a report on Thursday, September 26th.

Sonos Stock Up 3.4 %

Shares of NASDAQ SONO opened at $14.70 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of -44.54 and a beta of 2.04. The stock’s 50 day moving average price is $13.05 and its 200-day moving average price is $13.40. Sonos, Inc. has a twelve month low of $10.23 and a twelve month high of $19.76.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Wednesday, November 13th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.22). The business had revenue of $255.38 million during the quarter, compared to analysts’ expectations of $247.92 million. Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The firm’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.21) EPS. As a group, research analysts expect that Sonos, Inc. will post -0.3 EPS for the current fiscal year.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.