Wellington Management Group LLP Increases Position in Sonos, Inc. (NASDAQ:SONO)

Wellington Management Group LLP boosted its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,654,074 shares of the company's stock after acquiring an additional 351,057 shares during the period. Wellington Management Group LLP owned about 3.07% of Sonos worth $54,957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coliseum Capital Management LLC grew its holdings in shares of Sonos by 50.3% during the fourth quarter. Coliseum Capital Management LLC now owns 10,734,013 shares of the company's stock worth $161,440,000 after buying an additional 3,590,782 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Sonos by 14.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,187,522 shares of the company's stock worth $47,940,000 after buying an additional 408,479 shares during the period. Schroder Investment Management Group lifted its position in shares of Sonos by 0.7% during the fourth quarter. Schroder Investment Management Group now owns 3,025,290 shares of the company's stock worth $45,591,000 after purchasing an additional 21,126 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sonos by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,687,007 shares of the company's stock valued at $40,413,000 after buying an additional 148,608 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Sonos by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,698,371 shares of the company's stock valued at $25,544,000 after buying an additional 119,595 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on SONO shares. Rosenblatt Securities reduced their price objective on shares of 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 price objective on shares of Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, April 7th.

Sonos Price Performance

Shares of SONO stock traded down $0.42 on Friday, hitting $10.17. The company's stock had a trading volume of 2,044,333 shares, compared to its average volume of 1,976,865. Sonos, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $16.30. The firm's fifty day moving average price is $9.54 and its 200-day moving average price is $12.23. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -17.84 and a beta of 2.06.

Sonos declared that its Board of Directors has initiated a stock repurchase program on Monday, February 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L acquired 147,157 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $9.17 per share, with a total value of $1,349,429.69. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

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.