Quest Partners LLC Has $251,000 Holdings in Sonos, Inc. (NASDAQ:SONO)

Quest Partners LLC grew its holdings in Sonos, Inc. (NASDAQ:SONO) by 321.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,457 shares of the company’s stock after acquiring an additional 15,607 shares during the period. Quest Partners LLC’s holdings in Sonos were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in shares of Sonos during the 3rd quarter worth about $30,000. Cornercap Investment Counsel Inc. bought a new position in Sonos in the 3rd quarter valued at about $539,000. KBC Group NV lifted its position in Sonos by 52.5% during the third quarter. KBC Group NV now owns 4,852 shares of the company’s stock worth $60,000 after acquiring an additional 1,670 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Sonos by 535.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 377,294 shares of the company’s stock worth $4,637,000 after acquiring an additional 317,945 shares during the period. Finally, GFS Advisors LLC grew its position in shares of Sonos by 207.3% in the third quarter. GFS Advisors LLC now owns 100,000 shares of the company’s stock valued at $1,229,000 after purchasing an additional 67,463 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

Sonos Trading Down 5.9 %

Shares of SONO opened at $13.17 on Wednesday. The stock has a market capitalization of $1.60 billion, a PE ratio of -39.91 and a beta of 2.04. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.76. The firm’s 50 day moving average is $12.79 and its 200-day moving average is $13.51.

Sonos (NASDAQ:SONO) last released its earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The company had revenue of $255.38 million for the quarter, compared to the consensus estimate of $247.92 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The business’s revenue was down 16.3% compared to the same quarter last year. Equities research analysts predict that Sonos, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SONO has been the subject of several research reports. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum cut Sonos from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $10.00 in a research report on Thursday, August 8th.

Sonos Profile

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.