Vontobel Holding Ltd. Trims Stake in Sonos, Inc. (NASDAQ:SONO)

Vontobel Holding Ltd. cut its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 74.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,200 shares of the company’s stock after selling 52,290 shares during the quarter. Vontobel Holding Ltd.’s holdings in Sonos were worth $682,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Sonos by 103.1% during the first quarter. BlackRock Inc. now owns 11,700,686 shares of the company’s stock worth $438,426,000 after acquiring an additional 5,939,625 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Sonos by 99.5% during the first quarter. Lord Abbett & CO. LLC now owns 5,123,240 shares of the company’s stock worth $191,968,000 after acquiring an additional 2,555,818 shares during the period. Morgan Stanley increased its holdings in Sonos by 194.5% during the fourth quarter. Morgan Stanley now owns 3,924,176 shares of the company’s stock valued at $91,787,000 after buying an additional 2,591,758 shares during the period. Renaissance Technologies LLC increased its holdings in Sonos by 153.3% during the fourth quarter. Renaissance Technologies LLC now owns 3,493,053 shares of the company’s stock valued at $81,703,000 after buying an additional 2,113,955 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in Sonos by 3.7% during the fourth quarter. Nuveen Asset Management LLC now owns 1,852,737 shares of the company’s stock valued at $43,336,000 after buying an additional 65,916 shares during the period. 77.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of SONO opened at $34.44 on Friday. The firm has a market capitalization of $4.29 billion, a P/E ratio of 45.32, a price-to-earnings-growth ratio of 1.22 and a beta of 1.90. Sonos, Inc. has a twelve month low of $11.26 and a twelve month high of $44.72. The company has a 50 day moving average price of $38.23.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Wednesday, May 12th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.53. Sonos had a net margin of 7.08% and a return on equity of 43.14%. The business had revenue of $332.95 million during the quarter, compared to the consensus estimate of $248.48 million. During the same period in the previous year, the firm posted ($0.48) earnings per share. The business’s revenue for the quarter was up 90.2% compared to the same quarter last year. Analysts anticipate that Sonos, Inc. will post 0.85 EPS for the current year.

In other news, insider Nicholas Millington sold 38,100 shares of Sonos stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $38.55, for a total transaction of $1,468,755.00. Following the completion of the sale, the insider now directly owns 163,914 shares in the company, valued at $6,318,884.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Spence sold 65,237 shares of Sonos stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $43.31, for a total transaction of $2,825,414.47. Following the sale, the chief executive officer now owns 283,878 shares of the company’s stock, valued at $12,294,756.18. The disclosure for this sale can be found here. Insiders have sold 163,613 shares of company stock valued at $6,545,629 over the last quarter. Insiders own 3.70% of the company’s stock.

Several equities analysts recently issued reports on SONO shares. The Goldman Sachs Group raised shares of Sonos from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $17.00 to $37.00 in a report on Thursday, February 11th. Stifel Nicolaus lifted their price objective on shares of Sonos from $34.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, March 10th. Morgan Stanley lifted their price objective on shares of Sonos from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, May 13th. Finally, Zacks Investment Research downgraded shares of Sonos from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 18th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.50.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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