U.S. Capital Wealth Advisors LLC Purchases New Holdings in Sonos, Inc. (NASDAQ:SONO)

U.S. Capital Wealth Advisors LLC acquired a new position in shares of Sonos, Inc. (NASDAQ:SONO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,200 shares of the company’s stock, valued at approximately $175,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SONO. NewEdge Wealth LLC acquired a new stake in shares of Sonos during the 4th quarter worth about $7,453,000. Jump Financial LLC lifted its holdings in Sonos by 955.5% during the 3rd quarter. Jump Financial LLC now owns 223,905 shares of the company’s stock worth $2,891,000 after purchasing an additional 202,691 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Sonos by 16.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 336,304 shares of the company’s stock valued at $4,342,000 after purchasing an additional 47,200 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Sonos by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,312,778 shares of the company’s stock valued at $16,948,000 after buying an additional 87,341 shares in the last quarter. Finally, Trigran Investments Inc. increased its position in Sonos by 7.0% during the 3rd quarter. Trigran Investments Inc. now owns 6,698,433 shares of the company’s stock worth $86,477,000 after buying an additional 436,696 shares during the period. 85.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SONO. Rosenblatt Securities reiterated a “buy” rating and issued a $24.00 price objective on shares of Sonos in a research note on Monday, March 25th. TheStreet upgraded shares of Sonos from a “d+” rating to a “c-” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley increased their price target on Sonos from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Insider Transactions at Sonos

In related news, insider Christopher Scott Mason sold 20,000 shares of Sonos stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $17.62, for a total transaction of $352,400.00. Following the sale, the insider now directly owns 119,179 shares of the company’s stock, valued at approximately $2,099,933.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 22,715 shares of company stock valued at $402,845. 3.30% of the stock is currently owned by insiders.

Sonos Price Performance

Shares of SONO opened at $16.84 on Thursday. The firm has a 50 day simple moving average of $18.15 and a two-hundred day simple moving average of $16.41. The company has a market cap of $2.09 billion, a P/E ratio of -561.33 and a beta of 2.00. Sonos, Inc. has a one year low of $9.78 and a one year high of $21.98.

Sonos (NASDAQ:SONO) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.22. The business had revenue of $612.87 million for the quarter, compared to analyst estimates of $588.96 million. Sonos had a positive return on equity of 5.65% and a negative net margin of 0.28%. On average, analysts expect that Sonos, Inc. will post 0.31 earnings per share for the current fiscal year.

Sonos Company 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.