Capstone Investment Advisors LLC Buys Shares of 13,220 Sonos, Inc. (NASDAQ:SONO)

Capstone Investment Advisors LLC bought a new stake in Sonos, Inc. (NASDAQ:SONO) during the third quarter, Holdings Channel reports. The fund bought 13,220 shares of the company’s stock, valued at approximately $162,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Sonos by 5.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,706 shares of the company’s stock valued at $1,501,000 after purchasing an additional 4,086 shares in the last quarter. Quent Capital LLC grew its stake in Sonos by 400.0% during the second quarter. Quent Capital LLC now owns 25,000 shares of the company’s stock worth $369,000 after buying an additional 20,000 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Sonos by 26.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 38,114 shares of the company’s stock valued at $563,000 after acquiring an additional 7,971 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in shares of Sonos by 893.5% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 103,325 shares of the company’s stock valued at $1,525,000 after acquiring an additional 92,925 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Sonos by 2,222.0% during the 2nd quarter. SG Americas Securities LLC now owns 172,549 shares of the company’s stock valued at $2,547,000 after acquiring an additional 165,118 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Price Performance

Shares of SONO stock opened at $13.61 on Monday. The company’s fifty day moving average price is $12.86 and its two-hundred day moving average price is $13.44. The firm has a market capitalization of $1.66 billion, a P/E ratio of -41.24 and a beta of 2.04. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.76.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The business had revenue of $255.38 million during the quarter, compared to analysts’ expectations of $247.92 million. During the same period in the prior year, the company posted ($0.21) EPS. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. On average, sell-side analysts anticipate that Sonos, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Craig Hallum lowered Sonos from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $10.00 in a research report on Thursday, August 8th. Morgan Stanley downgraded Sonos from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $25.00 to $11.00 in a report on Thursday, September 26th.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company 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.