PDT Partners LLC Purchases 62,604 Shares of Sonos, Inc. (NASDAQ:SONO)

PDT Partners LLC increased its position in shares of Sonos, Inc. (NASDAQ:SONO) by 29.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,454 shares of the company’s stock after acquiring an additional 62,604 shares during the quarter. PDT Partners LLC owned about 0.23% of Sonos worth $3,410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Sonos by 5.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,706 shares of the company’s stock worth $1,501,000 after purchasing an additional 4,086 shares in the last quarter. Quent Capital LLC raised its stake in Sonos by 400.0% in the second quarter. Quent Capital LLC now owns 25,000 shares of the company’s stock valued at $369,000 after buying an additional 20,000 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Sonos by 26.4% in the second quarter. Harbor Capital Advisors Inc. now owns 38,114 shares of the company’s stock valued at $563,000 after buying an additional 7,971 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Sonos by 893.5% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 103,325 shares of the company’s stock worth $1,525,000 after acquiring an additional 92,925 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Sonos by 2,222.0% during the second 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 Stock Down 0.2 %

Sonos stock opened at $13.61 on Friday. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76. The stock has a 50-day moving average price of $12.86 and a 200 day moving average price of $13.49. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -41.24 and a beta of 2.04.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.22). The company had revenue of $255.38 million during the quarter, compared to analyst estimates of $247.92 million. Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The business’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. Research analysts anticipate that Sonos, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

SONO has been the subject of a number of recent analyst reports. Craig Hallum cut shares of Sonos from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $10.00 in a research note on Thursday, August 8th. Morgan Stanley downgraded shares of Sonos from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $25.00 to $11.00 in a research note on Thursday, September 26th.

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.