Amundi Increases Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

Amundi increased its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 189.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 61,717 shares of the company's stock after acquiring an additional 40,413 shares during the period. Amundi owned about 0.05% of Sonos worth $910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBW Capital LLC increased its holdings in Sonos by 42.6% during the 4th quarter. NBW Capital LLC now owns 256,134 shares of the company's stock worth $3,852,000 after purchasing an additional 76,454 shares during the period. Barclays PLC increased its holdings in Sonos by 120.3% during the 3rd quarter. Barclays PLC now owns 923,437 shares of the company's stock worth $11,350,000 after purchasing an additional 504,293 shares during the period. Nisa Investment Advisors LLC increased its holdings in Sonos by 7,557.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company's stock worth $2,347,000 after purchasing an additional 154,011 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Sonos by 42.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 877,758 shares of the company's stock worth $10,788,000 after purchasing an additional 263,060 shares during the period. Finally, Crestwood Capital Management L.P. purchased a new position in shares of Sonos in the 3rd quarter valued at $922,000. 85.82% of the stock is owned by institutional investors.

Sonos Trading Up 0.1 %

Shares of NASDAQ:SONO traded up $0.01 on Friday, reaching $11.71. The company had a trading volume of 2,895,760 shares, compared to its average volume of 1,801,900. Sonos, Inc. has a 52-week low of $10.23 and a 52-week high of $19.45. The firm's 50 day simple moving average is $13.17 and its 200-day simple moving average is $13.26. The firm has a market capitalization of $1.39 billion, a PE ratio of -20.54 and a beta of 1.98.

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Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos declared that its Board of Directors has authorized a stock buyback program on Monday, February 24th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a "buy" rating and issued a $18.00 price target on shares of Sonos in a report on Friday, February 7th.

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.