Neo Ivy Capital Management Purchases New Shares in Sonos, Inc. (NASDAQ:SONO)

   2021-03-27 10:03


Neo Ivy Capital Management purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,321 shares of the company’s stock, valued at approximately $124,000.



A number of other hedge funds have also recently added to or reduced their stakes in SONO. Lord Abbett & CO. LLC grew its position in Sonos by 4,129.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,567,422 shares of the company’s stock valued at $60,052,000 after buying an additional 2,506,718 shares during the period. Renaissance Technologies LLC lifted its holdings in Sonos by 153.3% during the fourth quarter. Renaissance Technologies LLC now owns 3,493,053 shares of the company’s stock valued at $81,703,000 after purchasing an additional 2,113,955 shares in the last quarter. Woodson Capital Management LP purchased a new position in Sonos during the third quarter valued at $28,414,000. Morgan Stanley lifted its holdings in Sonos by 101.9% during the third quarter. Morgan Stanley now owns 1,332,418 shares of the company’s stock valued at $20,227,000 after purchasing an additional 672,359 shares in the last quarter. Finally, J. Goldman & Co LP lifted its holdings in Sonos by 198.1% during the third quarter. J. Goldman & Co LP now owns 826,972 shares of the company’s stock valued at $12,553,000 after purchasing an additional 549,522 shares in the last quarter. Institutional investors own 64.27% of the company’s stock.


In other Sonos news, insider Anna Fraser sold 12,910 shares of Sonos stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $23.33, for a total transaction of $301,190.30. Following the transaction, the insider now directly owns 29,445 shares of the company’s stock, valued at $686,951.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michelangelo Volpi sold 426,697 shares of Sonos stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $35.98, for a total transaction of $15,352,558.06. The disclosure for this sale can be found here. Insiders have sold 600,639 shares of company stock worth $19,923,896 over the last ninety days. 11.20% of the stock is owned by insiders.

Several equities analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Sonos from $34.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, March 10th. Morgan Stanley increased their price objective on shares of Sonos from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, February 11th. Zacks Investment Research downgraded shares of Sonos from a “buy” rating to a “hold” rating in a report on Friday, January 15th. Finally, The Goldman Sachs Group raised shares of Sonos from a “sell” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $37.00 in a research note on Thursday, February 11th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $29.00.

Shares of SONO stock opened at $37.84 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.22. The firm’s 50-day moving average is $37.78 and its two-hundred day moving average is $24.25. Sonos, Inc. has a 12 month low of $7.67 and a 12 month high of $43.71. The company has a market capitalization of $4.53 billion, a PE ratio of -151.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.93.

Sonos (NASDAQ:SONO) last issued its earnings results on Wednesday, February 10th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.17. Sonos had a negative net margin of 1.52% and a positive return on equity of 3.32%. The company had revenue of $645.60 million for the quarter, compared to the consensus estimate of $589.86 million. During the same period in the previous year, the firm earned $0.60 earnings per share. Sonos’s quarterly revenue was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that Sonos, Inc. will post 0.68 EPS for the current year.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)



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