Teacher Retirement System of Texas Has $386,000 Holdings in Sonos, Inc. (NASDAQ:SONO)

Teacher Retirement System of Texas reduced its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 60.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,665 shares of the company's stock after selling 39,301 shares during the quarter. Teacher Retirement System of Texas' holdings in Sonos were worth $386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NBW Capital LLC increased its stake in shares of Sonos by 42.6% in the 4th 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. Barclays PLC increased its position 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 purchasing an additional 504,293 shares during the period. Nisa Investment Advisors LLC lifted its position in Sonos by 7,557.0% during the 4th 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 period. Raymond James Financial Inc. bought a new position in shares of Sonos in the 4th quarter valued at about $1,676,000. Finally, KBC Group NV grew its position in shares of Sonos by 52.6% during the 4th quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $111,000 after buying an additional 2,551 shares during the period. Institutional investors and hedge funds own 85.82% of the company's stock.

Sonos Trading Down 3.4 %

Shares of NASDAQ:SONO traded down $0.30 during mid-day trading on Friday, reaching $8.60. The stock had a trading volume of 3,129,024 shares, compared to its average volume of 1,870,151. The firm has a 50 day simple moving average of $12.48 and a two-hundred day simple moving average of $13.19. Sonos, Inc. has a twelve month low of $7.95 and a twelve month high of $18.48. The firm has a market cap of $1.02 billion, a PE ratio of -15.09 and a beta of 1.98.

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Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.40 earnings per share 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%. On average, equities analysts anticipate that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

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

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.