53,600 Shares in Sonos, Inc. $SONO Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in shares of Sonos, Inc. (NASDAQ:SONO) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,600 shares of the company’s stock, valued at approximately $718,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its position in shares of Sonos by 307.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock valued at $31,000 after acquiring an additional 1,330 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sonos by 699.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock worth $36,000 after acquiring an additional 1,798 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Sonos during the fourth quarter worth $50,000. Quarry LP lifted its holdings in shares of Sonos by 485.8% during the third quarter. Quarry LP now owns 3,251 shares of the company’s stock valued at $51,000 after purchasing an additional 2,696 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Sonos during the fourth quarter valued at $64,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

SONO has been the topic of a number of analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Sonos in a research note on Monday, June 15th. Zacks Research cut shares of Sonos from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings raised shares of Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sonos currently has a consensus rating of “Hold” and an average price target of $20.00.

Sonos Stock Performance

Shares of SONO stock traded up $0.15 on Tuesday, reaching $13.75. 132,593 shares of the company’s stock traded hands, compared to its average volume of 1,713,702. The company has a market capitalization of $1.64 billion, a P/E ratio of 80.89 and a beta of 1.96. Sonos, Inc. has a 12-month low of $10.11 and a 12-month high of $19.82. The business’s 50 day moving average price is $14.81 and its two-hundred day moving average price is $15.10.

Sonos 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.