Sonos, Inc. (NASDAQ:SONO) Holdings Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Sonos, Inc. (NASDAQ:SONO) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 380,376 shares of the company’s stock after selling 5,471 shares during the quarter. Mutual of America Capital Management LLC owned 0.30% of Sonos worth $12,309,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Koshinski Asset Management Inc. purchased a new stake in shares of Sonos during the third quarter valued at $25,000. Dark Forest Capital Management LP acquired a new position in Sonos in the 2nd quarter worth about $39,000. TCI Wealth Advisors Inc. increased its position in Sonos by 60.3% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,319 shares of the company’s stock worth $43,000 after purchasing an additional 496 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Sonos in the 3rd quarter worth about $50,000. Finally, Pacific Center for Financial Services acquired a new position in shares of Sonos during the 2nd quarter valued at about $70,000. 77.99% of the stock is owned by institutional investors and hedge funds.

NASDAQ SONO opened at $27.81 on Friday. The stock has a fifty day moving average of $31.12 and a 200-day moving average of $33.69. The stock has a market capitalization of $3.54 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 1.34 and a beta of 1.87. Sonos, Inc. has a 52 week low of $25.22 and a 52 week high of $44.72.

Sonos (NASDAQ:SONO) last released its earnings results on Tuesday, November 16th. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The company had revenue of $359.54 million during the quarter, compared to analysts’ expectations of $360.23 million. Sonos had a return on equity of 41.99% and a net margin of 9.24%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.15 EPS. As a group, equities research analysts forecast that Sonos, Inc. will post 1.29 earnings per share for the current year.

SONO has been the subject of a number of research reports. Zacks Investment Research upgraded Sonos from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research report on Monday, October 18th. Morgan Stanley cut their price objective on Sonos from $53.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, December 9th. Finally, TheStreet downgraded Sonos from a “b-” rating to a “c+” rating in a research report on Tuesday, September 28th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $42.00.

Sonos Profile

Sonos, Inc engages in the provision of multi-room wireless smart home sound systems. It supports streaming services around the world, providing customers with access to music, Internet radio, podcasts and audiobooks, with control from Android smartphones, iPhone or iPad. The company was founded by Mai Trung, John MacFarlane, Craig A.

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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