OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $978,000 Position in Sonos, Inc. (NASDAQ:SONO)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Sonos, Inc. (NASDAQ:SONO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 65,000 shares of the company's stock, valued at approximately $978,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.05% of Sonos at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Sonos in the fourth quarter worth $30,000. Mountain Hill Investment Partners Corp. purchased a new position in Sonos in the fourth quarter worth $31,000. Smartleaf Asset Management LLC boosted its position in 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 purchasing an additional 1,721 shares during the last quarter. Headlands Technologies LLC purchased a new position in Sonos in the fourth quarter worth $84,000. Finally, KBC Group NV boosted its position in Sonos by 52.6% in the fourth quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $111,000 after purchasing an additional 2,551 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SONO shares. Jefferies Financial Group dropped 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. Rosenblatt Securities dropped their price target on Sonos from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

Sonos Stock Up 0.6%

SONO traded up $0.06 during trading on Friday, reaching $10.89. 1,663,550 shares of the company were exchanged, compared to its average volume of 1,970,804. The company's 50-day moving average is $9.82 and its two-hundred day moving average is $12.46. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -19.11 and a beta of 2.06. Sonos, Inc. has a 12-month low of $7.63 and a 12-month high of $17.16.

Sonos announced that its Board of Directors has initiated a share repurchase program on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related 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 shares were acquired at an average price of $8.38 per share, with a total value of $523,800.28. Following the acquisition, the insider now owns 12,118,088 shares of the company's stock, valued at approximately $101,549,577.44. This trade represents a 0.52% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

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.