KBC Group NV Acquires 1,670 Shares of Sonos, Inc. (NASDAQ:SONO)

KBC Group NV grew its stake in Sonos, Inc. (NASDAQ:SONO) by 52.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,852 shares of the company’s stock after buying an additional 1,670 shares during the period. KBC Group NV’s holdings in Sonos were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Sonos by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock worth $271,627,000 after acquiring an additional 163,736 shares during the period. Pacer Advisors Inc. grew its position in Sonos by 24.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company’s stock worth $51,946,000 after acquiring an additional 699,975 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Sonos by 10.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,890,787 shares of the company’s stock valued at $55,098,000 after buying an additional 266,748 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Sonos by 8.6% in the second quarter. American Century Companies Inc. now owns 2,689,118 shares of the company’s stock worth $39,691,000 after acquiring an additional 212,610 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Sonos by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,659,127 shares of the company’s stock worth $39,248,000 after buying an additional 241,700 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sonos Stock Down 0.1 %

NASDAQ SONO opened at $13.49 on Friday. The firm’s 50 day moving average is $12.74 and its 200-day moving average is $13.58. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76. The company has a market capitalization of $1.64 billion, a PE ratio of -40.88 and a beta of 2.04.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results 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). Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The firm had revenue of $255.38 million for the quarter, compared to the consensus estimate of $247.92 million. During the same period last year, the company posted ($0.21) earnings per share. The business’s revenue was down 16.3% compared to the same quarter last year. As a group, sell-side analysts expect that Sonos, Inc. will post -0.3 EPS for the current 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.