Swiss National Bank Sells 2,000 Shares of Sonos, Inc. (NASDAQ:SONO)

Swiss National Bank lessened its stake in Sonos, Inc. (NASDAQ:SONO) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 238,000 shares of the company’s stock after selling 2,000 shares during the period. Swiss National Bank’s holdings in Sonos were worth $3,580,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SONO. SBI Securities Co. Ltd. purchased a new position in Sonos in the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC increased its stake in shares of Sonos by 191.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock worth $39,000 after buying an additional 1,721 shares during the period. GAMMA Investing LLC increased its stake in shares of Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock worth $61,000 after buying an additional 1,352 shares during the period. KBC Group NV raised its holdings in Sonos by 52.6% during the 4th quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $111,000 after buying an additional 2,551 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in Sonos during the 4th quarter valued at $177,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Rosenblatt Securities restated a “buy” rating and issued a $18.00 price objective on shares of Sonos in a research report on Friday, February 7th.

Sonos Stock Performance

Shares of SONO stock opened at $11.62 on Wednesday. Sonos, Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $19.45. The firm has a market cap of $1.38 billion, a P/E ratio of -20.39 and a beta of 1.98. The business’s 50 day moving average price is $13.07 and its 200-day moving average price is $13.27.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.40 EPS for the quarter, topping 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%. As a group, equities analysts predict that Sonos, Inc. will post -0.37 EPS for the current year.

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