Renaissance Technologies LLC boosted its holdings in Sonos, Inc. (NASDAQ:SONO – Free Report) by 258.8% during the first quarter, Holdings Channel.com reports. The firm owned 1,706,501 shares of the company’s stock after acquiring an additional 1,230,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Sonos were worth $22,867,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its stake in Sonos by 2.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,307,363 shares of the company’s stock valued at $44,319,000 after buying an additional 90,997 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Sonos by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,935,287 shares of the company’s stock worth $244,704,000 after acquiring an additional 204,934 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Sonos by 46.2% during the fourth quarter. BNP Paribas Financial Markets now owns 951,810 shares of the company’s stock valued at $16,714,000 after acquiring an additional 300,735 shares in the last quarter. Crestwood Capital Management L.P. increased its holdings in shares of Sonos by 54.5% during the fourth quarter. Crestwood Capital Management L.P. now owns 950,000 shares of the company’s stock valued at $16,682,000 after acquiring an additional 335,000 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in shares of Sonos by 190.3% in the 3rd quarter. Tudor Investment Corp ET AL now owns 722,740 shares of the company’s stock worth $11,419,000 after purchasing an additional 473,769 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on SONO shares. Zacks Research cut shares of Sonos from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Wall Street Zen cut shares of Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $21.00 price target on shares of Sonos in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.00.
Trending Headlines about Sonos
Here are the key news stories impacting Sonos this week:
- Positive Sentiment: Q3 earnings and revenue beat expectations. Sonos reported adjusted earnings of $0.27 per share, up from $0.19 a year earlier, exceeding the Zacks consensus estimate of $0.24. Revenue reached approximately $375.3 million, 8.8% above the prior-year period and ahead of the roughly $365.7 million consensus. Sonos Q3 Earnings and Revenues Beat Estimates
- Positive Sentiment: Fourth-quarter revenue guidance was well above expectations. Sonos forecast fiscal Q4 revenue of $325 million to $355 million, compared with the $305.1 million analyst consensus. The company also projected full-year fiscal 2026 revenue of $1.5 billion to $1.6 billion, broadly consistent with or slightly above the $1.5 billion consensus.
- Positive Sentiment: International growth could provide a longer-term catalyst. Management identified India as a priority market, citing rising demand for premium home-entertainment and home-theater products. Sonos India Expansion
- Neutral Sentiment: Sonos added investor and capital-allocation experience to its board. Chris Shackelton joined the board as the company continues adding directors with targeted strategic and financial expertise. The appointment may support governance and capital-allocation decisions, but its immediate earnings impact is limited. Sonos Appoints Chris Shackelton to Board
- Negative Sentiment: Profitability remains relatively thin. Despite the earnings beat, Sonos reported a net margin of only 1.62%, leaving the company sensitive to product demand, costs and execution. Its elevated valuation also means investors may expect continued earnings growth.
Sonos Stock Performance
Shares of NASDAQ:SONO opened at $17.52 on Thursday. Sonos, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $19.82. The business has a 50-day simple moving average of $14.87 and a two-hundred day simple moving average of $14.76. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 103.06 and a beta of 1.96.
About Sonos
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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