Sonos, Inc. (NASDAQ:SONO) Shares Sold by Deutsche Bank AG

Deutsche Bank AG reduced its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 33.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,496 shares of the company's stock after selling 57,654 shares during the period. Deutsche Bank AG owned 0.09% of Sonos worth $1,722,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SONO. SG Americas Securities LLC raised its position in shares of Sonos by 4.2% during the fourth 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 during the last quarter. Smartleaf Asset Management LLC grew its stake 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 increased its holdings in Sonos by 4.0% in the 4th 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 during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Sonos in the 4th quarter worth $30,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Sonos during the 4th quarter valued at about $31,000. 85.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L bought 62,506 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $8.38 per share, for a total transaction of $523,800.28. Following the acquisition, the insider now directly owns 12,118,088 shares of the company's stock, valued at $101,549,577.44. The trade was a 0.52% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Sonos Stock Performance

SONO stock traded up $0.12 on Thursday, hitting $10.59. 1,204,883 shares of the company's stock were exchanged, compared to its average volume of 1,972,404. The firm has a 50 day moving average price of $9.57 and a two-hundred day moving average price of $12.26. Sonos, Inc. has a 12-month low of $7.63 and a 12-month high of $16.30. The stock has a market cap of $1.27 billion, a P/E ratio of -18.58 and a beta of 2.06.

Sonos declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

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

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.