NewEdge Wealth LLC Acquires Shares of 248,708 Sonos, Inc. $SONO

Posted by Brian Himes on Aug 21st, 2026

NewEdge Wealth LLC bought a new stake in shares of Sonos, Inc. (NASDAQ:SONO – Free Report) during the second quarter, HoldingsChannel reports. The firm bought 248,708 shares of the company’s stock, valued at approximately $3,365,000.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Sonos during the 2nd quarter valued at about $248,067,000. Arrowstreet Capital Limited Partnership grew its holdings in Sonos by 626.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,663,480 shares of the company’s stock worth $42,083,000 after purchasing an additional 2,296,996 shares during the period. Renaissance Technologies LLC increased its stake in shares of Sonos by 258.8% during the first quarter. Renaissance Technologies LLC now owns 1,706,501 shares of the company’s stock valued at $22,867,000 after purchasing an additional 1,230,900 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Sonos by 250.8% during the second quarter. Cubist Systematic Strategies LLC now owns 1,393,706 shares of the company’s stock valued at $15,066,000 after purchasing an additional 996,425 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new position in shares of Sonos during the first quarter valued at approximately $10,414,000. 85.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SONO has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price target on shares of Sonos in a research note on Thursday, July 30th. Weiss Ratings raised Sonos from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded Sonos from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

Get Our Latest Stock Analysis on SONO

Insiders Place Their Bets

In related news, Director Julius Genachowski sold 19,855 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $17.00, for a total value of $337,535.00. Following the sale, the director owned 53,775 shares in the company, valued at approximately $914,175. This trade represents a 26.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.25% of the stock is currently owned by company insiders.

Sonos Price Performance

SONO stock opened at $16.05 on Friday. Sonos, Inc. has a 1-year low of $12.44 and a 1-year high of $19.82. The business has a fifty day moving average price of $14.90 and a 200-day moving average price of $14.78. The stock has a market capitalization of $1.90 billion, a P/E ratio of 35.67 and a beta of 1.95.

Sonos (NASDAQ:SONO – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.04 by $0.23. Sonos had a return on equity of 19.10% and a net margin of 3.82%.The company had revenue of $375.26 million during the quarter, compared to the consensus estimate of $365.65 million. During the same period last year, the company earned ($0.03) EPS. Sonos’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts anticipate that Sonos, Inc. will post 0.69 earnings per share for the current year.

About Sonos

(Free Report)

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.