ExodusPoint Capital Management LP purchased a new position in Sonos, Inc. (NASDAQ:SONO - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 113,717 shares of the company's stock, valued at approximately $1,710,000. ExodusPoint Capital Management LP owned 0.09% of Sonos at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in Sonos during the fourth quarter valued at approximately $84,000. Wellington Management Group LLP grew its position in Sonos by 10.6% during the fourth quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company's stock valued at $54,957,000 after buying an additional 351,057 shares during the period. Schroder Investment Management Group increased its stake in shares of Sonos by 0.7% in the 4th quarter. Schroder Investment Management Group now owns 3,025,290 shares of the company's stock valued at $45,591,000 after purchasing an additional 21,126 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Sonos by 192.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 370,100 shares of the company's stock worth $5,566,000 after purchasing an additional 243,759 shares during the period. Finally, Norges Bank acquired a new stake in Sonos in the 4th quarter valued at $4,322,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SONO. Rosenblatt Securities restated a "buy" rating and set a $18.00 price target on shares of Sonos in a research report on Friday, February 7th. Jefferies Financial Group lowered their price target on shares of Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, April 7th.
View Our Latest Stock Analysis on Sonos
Sonos Stock Performance
SONO stock traded up $0.14 during mid-day trading on Monday, reaching $8.14. The company had a trading volume of 253,473 shares, compared to its average volume of 1,907,380. Sonos, Inc. has a fifty-two week low of $7.70 and a fifty-two week high of $18.02. The company has a market capitalization of $969.34 million, a price-to-earnings ratio of -14.28 and a beta of 2.01. The firm has a fifty day simple moving average of $11.71 and a 200 day simple moving average of $12.99.
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 net margin of 4.73% and a negative return on equity of 13.17%. As a group, analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current year.
Sonos declared that its board has authorized a share repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In related news, major shareholder Coliseum Capital Management, L acquired 62,506 shares of the firm's stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $8.38 per share, with a total value of $523,800.28. Following the transaction, the insider now owns 12,118,088 shares of the company's stock, valued at $101,549,577.44. The trade was a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company's stock.
Sonos Profile
(
Free Report)
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.
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