Gladius Capital Management LP Purchases Shares of 2,411 Sonos, Inc. (NASDAQ:SONO)

Gladius Capital Management LP acquired a new position in Sonos, Inc. (NASDAQ:SONO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,411 shares of the company’s stock, valued at approximately $30,000.

Other hedge funds have also made changes to their positions in the company. Systematic Financial Management LP increased its holdings in Sonos by 39.9% in the 2nd quarter. Systematic Financial Management LP now owns 765,263 shares of the company’s stock valued at $11,295,000 after purchasing an additional 218,061 shares in the last quarter. SG Americas Securities LLC lifted its position in Sonos by 2,222.0% during the 2nd quarter. SG Americas Securities LLC now owns 172,549 shares of the company’s stock worth $2,547,000 after acquiring an additional 165,118 shares in the last quarter. Magnetar Financial LLC purchased a new position in Sonos in the 2nd quarter worth approximately $600,000. Vanguard Group Inc. grew its position in Sonos by 1.2% in the first quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock valued at $271,627,000 after acquiring an additional 163,736 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in shares of Sonos by 893.5% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 103,325 shares of the company’s stock valued at $1,525,000 after purchasing an additional 92,925 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analyst Ratings Changes

SONO has been the subject of several analyst reports. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $10.00 in a research note on Thursday, August 8th. Morgan Stanley lowered Sonos from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $25.00 to $11.00 in a research report on Thursday, September 26th.

Sonos Trading Down 5.1 %

SONO stock opened at $13.05 on Friday. The firm has a 50 day simple moving average of $12.57 and a 200-day simple moving average of $13.73. The company has a market capitalization of $1.58 billion, a P/E ratio of -39.54 and a beta of 2.04. Sonos, Inc. has a twelve month low of $10.23 and a twelve month high of $19.76.

Sonos 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.