SG Americas Securities LLC Has $707,000 Holdings in Sonos, Inc. (NASDAQ:SONO)

SG Americas Securities LLC lifted its holdings in Sonos, Inc. (NASDAQ:SONO - Free Report) by 62.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,277 shares of the company's stock after purchasing an additional 25,438 shares during the period. SG Americas Securities LLC owned about 0.06% of Sonos worth $707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in shares of Sonos in the fourth quarter valued at $30,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Sonos in the 4th quarter worth $31,000. Smartleaf Asset Management LLC grew its holdings in shares of Sonos by 191.2% in the 4th 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. Headlands Technologies LLC acquired a new stake in shares of Sonos during the fourth quarter worth $84,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sonos during the fourth quarter valued at $103,000. 85.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 62,506 shares of Sonos stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $8.38 per share, with a total value of $523,800.28. Following the completion of the transaction, the insider now directly owns 12,118,088 shares of the company's stock, valued at $101,549,577.44. This trade represents a 0.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders acquired 861,251 shares of company stock worth $8,454,123. 1.80% of the stock is currently owned by company insiders.

Sonos Stock Up 2.8%

Shares of Sonos stock traded up $0.28 during midday trading on Tuesday, hitting $10.34. The company's stock had a trading volume of 2,176,594 shares, compared to its average volume of 1,975,747. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $15.89. The firm has a market capitalization of $1.24 billion, a P/E ratio of -17.53 and a beta of 2.07. The stock has a 50-day simple moving average of $9.77 and a 200-day simple moving average of $11.81.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on SONO. 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 note on Thursday, May 8th. Jefferies Financial Group dropped their target price on shares of Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, April 7th.

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.