Sonos, Inc. (NASDAQ:SONO) Holdings Lifted by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in Sonos, Inc. (NASDAQ:SONO) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,444 shares of the company’s stock after acquiring an additional 7,110 shares during the period. Price T Rowe Associates Inc. MD owned about 0.08% of Sonos worth $1,361,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. NBW Capital LLC boosted its holdings in shares of Sonos by 42.6% during the fourth quarter. NBW Capital LLC now owns 256,134 shares of the company’s stock worth $3,852,000 after purchasing an additional 76,454 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Sonos during the 4th quarter valued at $403,000. Barclays PLC grew its holdings in shares of Sonos by 120.3% during the 3rd quarter. Barclays PLC now owns 923,437 shares of the company’s stock valued at $11,350,000 after acquiring an additional 504,293 shares in the last quarter. Nisa Investment Advisors LLC increased its stake 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 worth $2,347,000 after acquiring an additional 154,011 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Sonos during the fourth quarter worth $4,322,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L bought 147,157 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $9.17 per share, for a total transaction of $1,349,429.69. Following the purchase, the insider now directly owns 12,055,582 shares in the company, valued at $110,549,686.94. This trade represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group lowered their target price on Sonos from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Rosenblatt Securities lowered their price target on Sonos from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday.

Sonos Price Performance

Sonos stock opened at $10.43 on Friday. Sonos, Inc. has a one year low of $7.63 and a one year high of $17.65. The company’s fifty day moving average price is $9.97 and its two-hundred day moving average price is $12.52. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -18.30 and a beta of 2.06.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share 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%. As a group, sell-side analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos announced that its board has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management 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.