Arizona State Retirement System Sells 649 Shares of Sonos, Inc. (NASDAQ:SONO)

Arizona State Retirement System reduced its position in Sonos, Inc. (NASDAQ:SONO) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,061 shares of the company’s stock after selling 649 shares during the quarter. Arizona State Retirement System’s holdings in Sonos were worth $584,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in Sonos by 74.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock valued at $25,000 after buying an additional 777 shares during the period. State of Wyoming bought a new position in Sonos in the 2nd quarter valued at about $31,000. First Manhattan Co. bought a new position in Sonos in the 1st quarter valued at about $36,000. Pacific Center for Financial Services bought a new stake in shares of Sonos during the 1st quarter valued at approximately $39,000. Finally, Money Concepts Capital Corp grew its holdings in shares of Sonos by 3,649.3% during the 4th quarter. Money Concepts Capital Corp now owns 2,812 shares of the company’s stock valued at $48,000 after purchasing an additional 2,737 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TheStreet raised shares of Sonos from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. Morgan Stanley lifted their price target on shares of Sonos from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $24.00 price target on shares of Sonos in a report on Monday, March 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Buying and Selling

In related news, insider Christopher Scott Mason sold 20,000 shares of Sonos stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total transaction of $352,400.00. Following the sale, the insider now directly owns 119,179 shares in the company, valued at approximately $2,099,933.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Christopher Scott Mason sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total value of $352,400.00. Following the transaction, the insider now owns 119,179 shares in the company, valued at approximately $2,099,933.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Conrad sold 5,337 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $18.31, for a total transaction of $97,720.47. Following the completion of the transaction, the director now owns 37,334 shares in the company, valued at approximately $683,585.54. The disclosure for this sale can be found here. Insiders have sold a total of 27,147 shares of company stock worth $484,972 in the last ninety days. Company insiders own 3.30% of the company’s stock.

Sonos Price Performance

NASDAQ:SONO opened at $16.91 on Friday. The firm’s 50 day simple moving average is $18.51 and its 200 day simple moving average is $15.89. Sonos, Inc. has a one year low of $9.78 and a one year high of $21.98. The company has a market cap of $2.09 billion, a PE ratio of -563.67 and a beta of 1.99.

Sonos (NASDAQ:SONO) last posted its earnings results on Tuesday, February 6th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.47 by $0.22. Sonos had a negative net margin of 0.28% and a positive return on equity of 5.65%. The business had revenue of $612.87 million for the quarter, compared to the consensus estimate of $588.96 million. Equities research analysts expect that Sonos, Inc. will post 0.31 EPS for the current year.

Sonos Company 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.