141,257 Shares in Sonos, Inc. (NASDAQ:SONO) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new stake in Sonos, Inc. (NASDAQ:SONO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 141,257 shares of the company's stock, valued at approximately $2,125,000. Balyasny Asset Management L.P. owned about 0.12% of Sonos at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its position 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 during the period. GAMMA Investing LLC raised its holdings in Sonos by 50.1% during the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after purchasing an additional 1,352 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Sonos by 5.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 41,701 shares of the company's stock worth $627,000 after purchasing an additional 2,320 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Sonos by 7,557.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company's stock worth $2,347,000 after buying an additional 154,011 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Sonos by 4.2% in the fourth quarter. SG Americas Securities LLC now owns 40,839 shares of the company's stock valued at $614,000 after purchasing an additional 1,644 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SONO shares. Rosenblatt Securities dropped their price target on Sonos from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Jefferies Financial Group cut their target price on shares of Sonos from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, April 7th.

Sonos Stock Up 0.6%

Shares of SONO traded up $0.06 during trading on Friday, reaching $10.89. The company's stock had a trading volume of 1,663,550 shares, compared to its average volume of 1,968,963. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -19.11 and a beta of 2.06. The company has a fifty day moving average of $9.83 and a two-hundred day moving average of $12.47. Sonos, Inc. has a twelve month low of $7.63 and a twelve month high of $17.21.

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

Insider Transactions at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L bought 62,506 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $8.38 per share, for a total transaction of $523,800.28. Following the transaction, the insider now directly owns 12,118,088 shares in the company, valued at $101,549,577.44. The trade was a 0.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

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.