Charles Schwab Investment Management Inc. Boosts Holdings in Sonos, Inc. (NASDAQ:SONO)

Charles Schwab Investment Management Inc. increased its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,698,371 shares of the company's stock after acquiring an additional 119,595 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.41% of Sonos worth $25,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Sonos by 23.4% during the third quarter. Wellington Management Group LLP now owns 3,303,017 shares of the company's stock worth $40,594,000 after acquiring an additional 626,172 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Sonos by 0.9% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,671,113 shares of the company's stock worth $25,134,000 after buying an additional 15,171 shares during the last quarter. Barclays PLC raised its holdings in Sonos by 120.3% during the third quarter. Barclays PLC now owns 923,437 shares of the company's stock worth $11,350,000 after buying an additional 504,293 shares during the last quarter. Systematic Financial Management LP raised its holdings in Sonos by 19.0% during the third quarter. Systematic Financial Management LP now owns 910,354 shares of the company's stock worth $11,188,000 after buying an additional 145,091 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Sonos by 42.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 877,758 shares of the company's stock worth $10,788,000 after buying an additional 263,060 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

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Sonos Price Performance

Shares of SONO stock traded up $0.01 on Friday, hitting $11.71. The stock had a trading volume of 2,895,760 shares, compared to its average volume of 1,801,166. The business has a 50 day moving average of $13.17 and a 200 day moving average of $13.25. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -20.54 and a beta of 1.98. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76.

Sonos (NASDAQ:SONO - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. As a group, research analysts expect that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities restated a "buy" rating and set a $18.00 price objective on shares of Sonos in a report on Friday, February 7th.

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.