D.A. Davidson & CO. Takes $191,000 Position in Sonos Inc (NASDAQ:SONO)

D.A. Davidson & CO. bought a new stake in Sonos Inc (NASDAQ:SONO) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,250 shares of the company’s stock, valued at approximately $191,000.

Other hedge funds also recently bought and sold shares of the company. D L Carlson Investment Group Inc. acquired a new stake in shares of Sonos in the third quarter valued at about $2,015,000. Boston Advisors LLC grew its stake in Sonos by 25.0% during the 2nd quarter. Boston Advisors LLC now owns 25,000 shares of the company’s stock valued at $283,000 after purchasing an additional 5,000 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in Sonos during the 2nd quarter valued at approximately $194,000. Fisher Asset Management LLC acquired a new stake in Sonos during the 3rd quarter valued at approximately $154,000. Finally, A.R.T. Advisors LLC grew its stake in Sonos by 161.1% during the 2nd quarter. A.R.T. Advisors LLC now owns 63,209 shares of the company’s stock valued at $717,000 after purchasing an additional 39,000 shares in the last quarter. Institutional investors and hedge funds own 67.42% of the company’s stock.

NASDAQ:SONO opened at $13.87 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.06 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $13.67 and its two-hundred day moving average is $12.30. Sonos Inc has a 52 week low of $9.23 and a 52 week high of $15.41. The company has a market cap of $1.54 billion, a PE ratio of -57.79 and a beta of 1.59.

Sonos (NASDAQ:SONO) last released its earnings results on Wednesday, November 20th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sonos had a return on equity of 8.69% and a net margin of 1.86%. The firm had revenue of $294.00 million for the quarter, compared to the consensus estimate of $289.05 million. During the same period in the prior year, the business earned ($0.02) EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Sonos Inc will post 0.01 EPS for the current fiscal year.

SONO has been the subject of a number of recent analyst reports. Raymond James upgraded Sonos from an “outperform” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research note on Monday, August 19th. Jefferies Financial Group raised their price objective on Sonos from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, September 4th. They noted that the move was a valuation call. ValuEngine upgraded Sonos from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th. Royal Bank of Canada initiated coverage on Sonos in a research note on Tuesday, November 12th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, DA Davidson set a $20.00 price objective on Sonos and gave the company a “buy” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $16.29.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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