Barclays PLC Trims Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

Barclays PLC cut its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 59.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 370,614 shares of the company's stock after selling 552,823 shares during the quarter. Barclays PLC owned 0.31% of Sonos worth $5,573,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SONO. SBI Securities Co. Ltd. acquired a new stake in Sonos during the fourth quarter worth about $30,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Sonos during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC lifted its stake in shares of Sonos by 191.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock valued at $39,000 after purchasing an additional 1,721 shares during the period. GAMMA Investing LLC boosted its holdings in Sonos by 50.1% during the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after buying an additional 1,352 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Sonos during the fourth quarter valued at $84,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Stock Performance

Shares of SONO traded up $0.28 during mid-day trading on Tuesday, hitting $9.45. 1,833,684 shares of the company were exchanged, compared to its average volume of 1,944,541. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $18.02. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -16.58 and a beta of 2.01. The company has a 50 day moving average of $10.59 and a 200-day moving average of $12.72.

Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) 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%. Research analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Sonos declared that its Board of Directors 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 repurchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

SONO has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of Sonos from $19.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $18.00 price target on shares of Sonos in a report on Friday, February 7th.

Insider Transactions at Sonos

In other news, major shareholder Coliseum Capital Management, L bought 62,506 shares of Sonos stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $8.38 per share, with a total value of $523,800.28. Following the completion of the purchase, the insider now directly owns 12,118,088 shares of the company's stock, valued at approximately $101,549,577.44. This trade represents a 0.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company's stock.

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.