Dimensional Fund Advisors LP Raises Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

Dimensional Fund Advisors LP raised its stake in Sonos, Inc. (NASDAQ:SONO - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,687,007 shares of the company's stock after acquiring an additional 148,608 shares during the period. Dimensional Fund Advisors LP owned 2.23% of Sonos worth $40,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Sonos by 50.1% in the 4th 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 period. SG Americas Securities LLC boosted 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 acquiring an additional 1,644 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Sonos by 191.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock worth $39,000 after acquiring an additional 1,721 shares during the last quarter. Ironwood Investment Management LLC grew its position in shares of Sonos by 4.0% during the fourth quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company's stock worth $702,000 after acquiring an additional 1,782 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Sonos in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L acquired 147,157 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $9.17 per share, with a total value of $1,349,429.69. Following the purchase, the insider now directly owns 12,055,582 shares of the company's stock, valued at approximately $110,549,686.94. This trade represents a 1.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SONO shares. Rosenblatt Securities reissued a "buy" rating and set a $18.00 price objective on shares of Sonos in a research 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 report on Monday, April 7th.

Sonos Stock Down 2.4 %

NASDAQ:SONO traded down $0.22 during midday trading on Wednesday, reaching $8.97. The stock had a trading volume of 4,985,359 shares, compared to its average volume of 1,956,532. The stock has a market cap of $1.07 billion, a P/E ratio of -15.74 and a beta of 2.06. Sonos, Inc. has a 12-month low of $7.63 and a 12-month high of $18.02. The firm has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $12.59.

Sonos (NASDAQ:SONO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.41). Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. On average, sell-side analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Sonos announced that its board has authorized a stock buyback plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board 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.