Total Clarity Wealth Management Inc. Acquires New Shares in Sonos, Inc. (NASDAQ:SONO)

Total Clarity Wealth Management Inc. purchased a new position in shares of Sonos, Inc. (NASDAQ:SONO – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,355 shares of the company’s stock, valued at approximately $255,000.

Several other hedge funds also recently bought and sold shares of SONO. First Manhattan Co. purchased a new position in Sonos during the first quarter worth $36,000. Islay Capital Management LLC purchased a new position in Sonos during the second quarter worth $72,000. Covestor Ltd increased its position in Sonos by 2,100.7% during the first quarter. Covestor Ltd now owns 3,125 shares of the company’s stock worth $88,000 after buying an additional 2,983 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Sonos during the second quarter worth $89,000. Finally, Sage Private Wealth Group LLC increased its position in Sonos by 10.8% during the second quarter. Sage Private Wealth Group LLC now owns 5,175 shares of the company’s stock worth $93,000 after buying an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 85.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SONO shares. Morgan Stanley decreased their price objective on Sonos from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, October 17th. DA Davidson decreased their price objective on Sonos to $26.00 in a report on Thursday, December 1st.

Sonos Trading Down 0.7 %

Shares of Sonos stock opened at $18.22 on Wednesday. Sonos, Inc. has a twelve month low of $13.65 and a twelve month high of $31.22. The stock has a market capitalization of $2.32 billion, a P/E ratio of 42.37, a PEG ratio of 9.80 and a beta of 1.89. The business’s fifty day moving average price is $17.53 and its 200 day moving average price is $17.06.

Sonos (NASDAQ:SONO – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). Sonos had a return on equity of 13.89% and a net margin of 3.85%. The company had revenue of $316.29 million for the quarter, compared to analyst estimates of $302.51 million. As a group, sell-side analysts predict that Sonos, Inc. will post 0.19 EPS for the current year.

Sonos Company Profile

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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.