American Century Companies Inc. Purchases 71,448 Shares of Sonos, Inc. (NASDAQ:SONO)

American Century Companies Inc. boosted its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 22.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 388,743 shares of the company's stock after buying an additional 71,448 shares during the quarter. American Century Companies Inc. owned approximately 0.32% of Sonos worth $5,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SONO. SBI Securities Co. Ltd. acquired a new position in shares of Sonos during the 4th quarter valued at $30,000. Smartleaf Asset Management LLC grew its holdings in Sonos by 191.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock worth $39,000 after buying an additional 1,721 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock valued at $61,000 after purchasing an additional 1,352 shares during the last quarter. KBC Group NV lifted its position in shares of Sonos by 52.6% during the 4th quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $111,000 after buying an additional 2,551 shares in the last quarter. Finally, Hohimer Wealth Management LLC bought a new stake in Sonos during the third quarter worth $148,000. 85.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group lowered their price objective on shares of Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday. Rosenblatt Securities reiterated a "buy" rating and set a $18.00 price target on shares of Sonos in a research report on Friday, February 7th.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L purchased 62,506 shares of the company's stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $8.38 per share, with a total value of $523,800.28. Following the transaction, the insider now directly owns 12,118,088 shares of the company's stock, valued at approximately $101,549,577.44. This represents a 0.52 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company's stock.

Sonos Price Performance

SONO stock traded up $0.83 during midday trading on Wednesday, reaching $8.98. The company had a trading volume of 6,554,673 shares, compared to its average volume of 1,901,473. Sonos, Inc. has a 1 year low of $7.73 and a 1 year high of $18.02. The company has a market capitalization of $1.07 billion, a P/E ratio of -15.75 and a beta of 2.01. The firm has a 50-day moving average price of $11.95 and a 200-day moving average price of $13.05.

Sonos (NASDAQ:SONO - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. On average, equities analysts predict that Sonos, Inc. will post -0.37 EPS for the current year.

Sonos announced that its board has authorized a stock repurchase program on Monday, February 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.