Gladius Capital Management LP Makes New $30,000 Investment in Sonos, Inc. (NASDAQ:SONO)

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

Several other large investors have also modified their holdings of SONO. Systematic Financial Management LP lifted its stake 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 buying an additional 218,061 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Sonos by 2,222.0% in the second quarter. SG Americas Securities LLC now owns 172,549 shares of the company’s stock valued at $2,547,000 after acquiring an additional 165,118 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Sonos in the second quarter valued at $600,000. Vanguard Group Inc. boosted its stake in shares of Sonos by 1.2% during 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 during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in Sonos by 893.5% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 103,325 shares of the company’s stock worth $1,525,000 after purchasing an additional 92,925 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Stock Down 5.1 %

Shares of NASDAQ:SONO opened at $13.05 on Friday. The business has a fifty day simple moving average of $12.57 and a 200-day simple moving average of $13.73. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76. The company has a market cap of $1.58 billion, a P/E ratio of -39.54 and a beta of 2.04.

Analyst Upgrades and Downgrades

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

About Sonos

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.