Barclays PLC Has $5.57 Million Position in Sonos, Inc. (NASDAQ:SONO)

Barclays PLC decreased its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 59.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 370,614 shares of the company's stock after selling 552,823 shares during the period. Barclays PLC owned 0.31% of Sonos worth $5,573,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SONO. GAMMA Investing LLC raised its position in shares of Sonos by 50.1% during the 4th 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 period. SG Americas Securities LLC grew its position in Sonos by 4.2% in the 4th quarter. SG Americas Securities LLC now owns 40,839 shares of the company's stock valued at $614,000 after buying an additional 1,644 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Sonos by 191.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock valued at $39,000 after buying an additional 1,721 shares during the period. Ironwood Investment Management LLC raised its position in shares of Sonos by 4.0% during the 4th quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company's stock worth $702,000 after buying an additional 1,782 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Sonos in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 85.82% of the company's stock.

Sonos Stock Down 2.4 %

Shares of Sonos stock traded down $0.23 during midday trading on Wednesday, hitting $9.22. The company's stock had a trading volume of 561,356 shares, compared to its average volume of 1,942,963. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $18.02. The firm has a market capitalization of $1.10 billion, a P/E ratio of -16.18 and a beta of 2.01. The stock has a 50-day simple moving average of $10.53 and a 200-day simple moving average of $12.70.

Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. As a group, sell-side analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos announced that its Board of Directors has authorized 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 shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SONO has been the subject of several research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $18.00 price objective on shares of Sonos in a report on Friday, February 7th. Jefferies Financial Group reduced their price objective on Sonos from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, April 7th.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L acquired 147,157 shares of Sonos stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $9.17 per share, with a total value of $1,349,429.69. Following the completion of the transaction, the insider now owns 12,055,582 shares of the company's stock, valued at $110,549,686.94. The trade was a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

About Sonos

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.