Sonos, Inc. (NASDAQ:SONO) Stake Lifted by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. increased its position in shares of Sonos, Inc. (NASDAQ:SONO) by 55.9% during the third quarter, Holdings Channel.com reports. The fund owned 279,921 shares of the company’s stock after acquiring an additional 100,419 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Sonos were worth $3,440,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SONO. Systematic Financial Management LP increased its stake in Sonos by 39.9% in the 2nd quarter. Systematic Financial Management LP now owns 765,263 shares of the company’s stock worth $11,295,000 after purchasing an additional 218,061 shares in the last quarter. SG Americas Securities LLC raised its stake 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 worth $2,547,000 after purchasing an additional 165,118 shares in the last quarter. Magnetar Financial LLC bought a new stake in Sonos in the second quarter worth approximately $600,000. Vanguard Group Inc. boosted its holdings in Sonos by 1.2% in the first quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock worth $271,627,000 after purchasing an additional 163,736 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Sonos during the 3rd quarter worth about $539,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SONO. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $10.00 in a report on Thursday, August 8th. Morgan Stanley lowered Sonos from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $25.00 to $11.00 in a report on Thursday, September 26th.

Sonos Stock Up 0.4 %

Shares of Sonos stock opened at $12.95 on Thursday. The stock has a market capitalization of $1.58 billion, a P/E ratio of -39.24 and a beta of 2.04. The company has a 50-day simple moving average of $12.66 and a 200 day simple moving average of $13.64. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76.

Sonos (NASDAQ:SONO) last announced its earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share 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 analyst estimates of $247.92 million. During the same quarter last year, the business posted ($0.21) earnings per share. The business’s quarterly revenue was down 16.3% compared to the same quarter last year. On average, equities analysts anticipate that Sonos, Inc. will post -0.3 earnings per share for the current year.

Sonos Profile

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.