Mutual of America Capital Management LLC Sells 5,471 Shares of Sonos, Inc. (NASDAQ:SONO)

Mutual of America Capital Management LLC cut its holdings in Sonos, Inc. (NASDAQ:SONO) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 380,376 shares of the company’s stock after selling 5,471 shares during the period. Mutual of America Capital Management LLC’s holdings in Sonos were worth $12,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SONO. Comerica Bank grew its stake in shares of Sonos by 3.0% in the 2nd quarter. Comerica Bank now owns 8,517 shares of the company’s stock worth $312,000 after buying an additional 246 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Sonos by 3.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 8,300 shares of the company’s stock worth $269,000 after buying an additional 300 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Sonos by 3.5% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 11,996 shares of the company’s stock worth $388,000 after purchasing an additional 401 shares during the last quarter. Caxton Associates LP boosted its holdings in shares of Sonos by 0.4% in the 2nd quarter. Caxton Associates LP now owns 121,049 shares of the company’s stock valued at $4,265,000 after acquiring an additional 437 shares during the last quarter. Finally, Insight Wealth Strategies LLC lifted its stake in shares of Sonos by 1.9% in the 3rd quarter. Insight Wealth Strategies LLC now owns 26,692 shares of the company’s stock valued at $864,000 after purchasing an additional 492 shares during the period. Institutional investors own 77.99% of the company’s stock.

Several research analysts have weighed in on SONO shares. Morgan Stanley lowered their target price on shares of Sonos from $53.00 to $49.00 and set an “overweight” rating for the company in a research note on Thursday, December 9th. Zacks Investment Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a research report on Monday, October 18th. Finally, TheStreet lowered shares of Sonos from a “b-” rating to a “c+” rating in a research report on Tuesday, September 28th. Two equities 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. Based on data from MarketBeat.com, Sonos currently has an average rating of “Buy” and an average target price of $42.00.

Shares of Sonos stock opened at $27.81 on Friday. Sonos, Inc. has a 1 year low of $25.22 and a 1 year high of $44.72. The stock has a 50-day moving average price of $31.12 and a 200 day moving average price of $33.69. The company has a market cap of $3.54 billion, a P/E ratio of 23.57, a P/E/G ratio of 1.34 and a beta of 1.87.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Tuesday, November 16th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.04. Sonos had a return on equity of 41.99% and a net margin of 9.24%. The company had revenue of $359.54 million during the quarter, compared to the consensus estimate of $360.23 million. During the same quarter last year, the company earned $0.15 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Sonos, Inc. will post 1.29 earnings per share for the current year.

About Sonos

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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