OMERS ADMINISTRATION Corp Has $2.12 Million Position in Sonos, Inc. $SONO

OMERS ADMINISTRATION Corp grew its position in shares of Sonos, Inc. (NASDAQ:SONO) by 47.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,842 shares of the company’s stock after buying an additional 50,600 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Sonos were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 204,934 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Sonos by 2.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,281,869 shares of the company’s stock valued at $57,630,000 after buying an additional 85,468 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sonos by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,908,435 shares of the company’s stock worth $51,082,000 after buying an additional 20,602 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Sonos by 27.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,384,430 shares of the company’s stock worth $31,949,000 after buying an additional 506,566 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SONO shares. Weiss Ratings raised Sonos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Wall Street Zen cut Sonos from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of Sonos in a report on Monday, June 15th. Finally, Zacks Research lowered shares of Sonos from a “strong-buy” rating to a “hold” rating in a research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.00.

Sonos Stock Up 7.3%

Shares of NASDAQ:SONO opened at $16.80 on Wednesday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 98.83 and a beta of 1.96. The business has a 50 day moving average price of $14.82 and a 200 day moving average price of $14.76. Sonos, Inc. has a twelve month low of $10.11 and a twelve month high of $19.82.

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.