Fox Run Management L.L.C. Sells 39,681 Shares of Sonos, Inc. (NASDAQ:SONO)

Fox Run Management L.L.C. cut its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 78.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,204 shares of the company's stock after selling 39,681 shares during the period. Fox Run Management L.L.C.'s holdings in Sonos were worth $169,000 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. Wellington Management Group LLP boosted its holdings in Sonos by 23.4% in the third quarter. Wellington Management Group LLP now owns 3,303,017 shares of the company's stock valued at $40,594,000 after acquiring an additional 626,172 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sonos by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,698,371 shares of the company's stock worth $25,544,000 after purchasing an additional 119,595 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Sonos by 0.9% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,671,113 shares of the company's stock valued at $25,134,000 after purchasing an additional 15,171 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Sonos by 9.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 960,187 shares of the company's stock valued at $14,441,000 after buying an additional 82,429 shares during the period. Finally, Barclays PLC raised its stake in Sonos by 120.3% in 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 in the last quarter. Institutional investors own 85.82% of the company's stock.

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Sonos Trading Up 0.3 %

Sonos stock traded up $0.03 on Wednesday, hitting $10.77. 925,156 shares of the stock traded hands, compared to its average volume of 1,845,881. Sonos, Inc. has a 1 year low of $10.23 and a 1 year high of $19.33. The firm has a market cap of $1.28 billion, a P/E ratio of -18.89 and a beta of 1.98. The business's fifty day simple moving average is $12.69 and its 200 day simple moving average is $13.24.

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, beating 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 of Directors has initiated a share buyback plan 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 plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price objective on shares of Sonos in a research 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.