Sonos, Inc. (NASDAQ:SONO) Shares Sold by Capital Fund Management S.A.

Capital Fund Management S.A. reduced its position in Sonos, Inc. (NASDAQ:SONO) by 19.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,651 shares of the company’s stock after selling 26,651 shares during the quarter. Capital Fund Management S.A. owned about 0.09% of Sonos worth $1,664,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SONO. GAMMA Investing LLC boosted its holdings in Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock valued at $61,000 after purchasing an additional 1,352 shares during the last quarter. SG Americas Securities LLC grew its holdings in Sonos by 4.2% during the fourth quarter. SG Americas Securities LLC now owns 40,839 shares of the company’s stock worth $614,000 after acquiring an additional 1,644 shares during the period. Smartleaf Asset Management LLC raised its position in Sonos by 191.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock valued at $39,000 after acquiring an additional 1,721 shares in the last quarter. Ironwood Investment Management LLC raised its position in Sonos by 4.0% during the fourth quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company’s stock valued at $702,000 after acquiring an additional 1,782 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Sonos in the fourth quarter valued at approximately $30,000. 85.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L acquired 62,506 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of $8.38 per share, with a total value of $523,800.28. Following the purchase, the insider now owns 12,118,088 shares in the company, valued at approximately $101,549,577.44. The trade was a 0.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Sonos Stock Down 1.4 %

Shares of NASDAQ SONO opened at $7.88 on Wednesday. The firm has a market cap of $938.37 million, a price-to-earnings ratio of -13.82 and a beta of 2.01. The company’s 50-day simple moving average is $11.44 and its 200-day simple moving average is $12.92. Sonos, Inc. has a 52-week low of $7.70 and a 52-week high of $18.02.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping 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 anticipate that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

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

Analysts Set New Price Targets

SONO has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Sonos in a report on Friday, February 7th. Jefferies Financial Group lowered their price target on Sonos from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, April 7th.

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.