Wellington Management Group LLP Acquires 351,057 Shares of Sonos, Inc. (NASDAQ:SONO)

Wellington Management Group LLP raised its holdings in Sonos, Inc. (NASDAQ:SONO - Free Report) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,654,074 shares of the company's stock after buying an additional 351,057 shares during the period. Wellington Management Group LLP owned about 3.03% of Sonos worth $54,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBW Capital LLC raised its stake in Sonos by 42.6% in the fourth quarter. NBW Capital LLC now owns 256,134 shares of the company's stock valued at $3,852,000 after buying an additional 76,454 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Sonos in the fourth quarter valued at approximately $403,000. Barclays PLC grew its position in shares of Sonos by 120.3% in the third quarter. Barclays PLC now owns 923,437 shares of the company's stock valued at $11,350,000 after purchasing an additional 504,293 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Sonos by 7,557.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company's stock valued at $2,347,000 after purchasing an additional 154,011 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Sonos during the fourth quarter worth approximately $1,676,000. Institutional investors own 85.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SONO shares. Jefferies Financial Group reduced their target price on Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday. Rosenblatt Securities reiterated a "buy" rating and issued a $18.00 price target on shares of Sonos in a research note on Friday, February 7th.

Insider Buying and Selling at Sonos

In other news, major shareholder Coliseum Capital Management, L acquired 147,157 shares of the stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $9.17 per share, with a total value of $1,349,429.69. Following the completion of the purchase, the insider now owns 12,055,582 shares in the company, valued at approximately $110,549,686.94. The trade was a 1.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company's stock.

Sonos Trading Down 6.1 %

NASDAQ:SONO traded down $0.54 during trading hours on Thursday, hitting $8.44. 532,436 shares of the company were exchanged, compared to its average volume of 1,896,225. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -14.82 and a beta of 2.01. Sonos, Inc. has a one year low of $7.72 and a one year high of $18.02. The company has a fifty day simple moving average of $11.95 and a 200 day simple moving average of $13.05.

Sonos (NASDAQ:SONO - Get Free Report) last issued 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 return on equity of 13.17% and a negative net margin of 4.73%. Equities research analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Sonos announced that its Board of Directors has approved a stock repurchase program on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.