Aristotle Capital Boston LLC lowered its position in Sonos, Inc. (NASDAQ:SONO – Free Report) by 9.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 866,297 shares of the company’s stock after selling 91,336 shares during the period. Aristotle Capital Boston LLC’s holdings in Sonos were worth $15,212,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in Sonos by 307.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock valued at $31,000 after purchasing an additional 1,330 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Sonos by 699.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock valued at $36,000 after purchasing an additional 1,798 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Sonos during the 4th quarter worth $50,000. Quarry LP raised its holdings in shares of Sonos by 485.8% during the 3rd quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after acquiring an additional 2,696 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Sonos during the 4th quarter worth $64,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of Sonos in a report on Monday. Wall Street Zen lowered Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded Sonos from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, Zacks Research lowered Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sonos currently has a consensus rating of “Hold” and a consensus target price of $20.00.
Sonos Trading Down 3.7%
Shares of SONO opened at $14.29 on Thursday. The firm has a market cap of $1.70 billion, a P/E ratio of 84.06 and a beta of 1.93. Sonos, Inc. has a 12-month low of $9.65 and a 12-month high of $19.82. The company’s 50-day moving average price is $14.81 and its 200 day moving average price is $15.54.
Sonos Company Profile
Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.
Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.
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