Sonos, Inc. (NASDAQ:SONO) Shares Purchased by NBW Capital LLC

NBW Capital LLC grew its position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 42.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,134 shares of the company's stock after acquiring an additional 76,454 shares during the quarter. NBW Capital LLC owned about 0.21% of Sonos worth $3,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SONO. Creative Planning increased its stake in Sonos by 16.3% during the third quarter. Creative Planning now owns 29,488 shares of the company's stock worth $362,000 after acquiring an additional 4,135 shares during the last quarter. International Assets Investment Management LLC increased its stake in Sonos by 927.0% during the third quarter. International Assets Investment Management LLC now owns 7,497 shares of the company's stock worth $92,000 after acquiring an additional 6,767 shares during the last quarter. New York State Teachers Retirement System increased its stake in Sonos by 37.7% during the third quarter. New York State Teachers Retirement System now owns 42,859 shares of the company's stock worth $527,000 after acquiring an additional 11,735 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Sonos by 3.3% during the third quarter. Harbor Capital Advisors Inc. now owns 39,381 shares of the company's stock worth $484,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Sonos by 535.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 377,294 shares of the company's stock worth $4,637,000 after acquiring an additional 317,945 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sonos Stock Performance

SONO stock opened at $12.99 on Tuesday. Sonos, Inc. has a 1 year low of $10.23 and a 1 year high of $19.76. The firm has a market cap of $1.55 billion, a P/E ratio of -22.79 and a beta of 1.97. The stock has a 50-day simple moving average of $13.98 and a 200-day simple moving average of $13.25.

Sonos (NASDAQ:SONO - Get Free Report) last posted its 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%. On average, equities research analysts predict that Sonos, Inc. will post -0.37 EPS for the current year.

Sonos declared that its Board of Directors has approved a share repurchase plan on Monday, February 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Sonos Company 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.

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