Sonos, Inc. (NASDAQ:SONO) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lessened its position in shares of Sonos, Inc. (NASDAQ:SONO) by 12.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,779,043 shares of the company’s stock after selling 399,219 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Sonos were worth $34,154,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Gladius Capital Management LP purchased a new stake in shares of Sonos during the 3rd quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sonos in the second quarter valued at $46,000. Quest Partners LLC lifted its holdings in Sonos by 138.8% during the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after buying an additional 2,819 shares during the last quarter. KBC Group NV boosted its position in shares of Sonos by 52.5% during the 3rd quarter. KBC Group NV now owns 4,852 shares of the company’s stock worth $60,000 after acquiring an additional 1,670 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Sonos in the 2nd quarter valued at about $81,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sonos Stock Performance

SONO opened at $14.19 on Wednesday. Sonos, Inc. has a one year low of $10.23 and a one year high of $19.76. The stock has a market capitalization of $1.73 billion, a P/E ratio of -43.00 and a beta of 2.04. The business’s 50-day simple moving average is $12.92 and its 200-day simple moving average is $13.40.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.22). The firm had revenue of $255.38 million for the quarter, compared to analyst estimates of $247.92 million. Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The company’s quarterly revenue was down 16.3% on a year-over-year basis. During the same period last year, the firm earned ($0.21) EPS. On average, equities research analysts forecast that Sonos, Inc. will post -0.3 EPS 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.