UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 77,765 Shares of Sonos, Inc. (NASDAQ:SONO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Sonos, Inc. (NASDAQ:SONO - Free Report) by 26.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,614 shares of the company's stock after purchasing an additional 77,765 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of Sonos worth $5,649,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Systematic Financial Management LP raised its stake in shares of Sonos by 6.5% in the fourth quarter. Systematic Financial Management LP now owns 969,518 shares of the company's stock valued at $14,582,000 after acquiring an additional 59,164 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sonos in the fourth quarter valued at approximately $103,000. Point72 Asset Management L.P. bought a new position in Sonos during the fourth quarter worth about $13,057,000. ProShare Advisors LLC raised its holdings in Sonos by 41.5% during the 4th quarter. ProShare Advisors LLC now owns 36,318 shares of the company's stock worth $546,000 after buying an additional 10,649 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new stake in Sonos in the 4th quarter valued at $196,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Sonos

In other news, major shareholder Coliseum Capital Management, L purchased 62,506 shares of the company's stock in a transaction dated 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 purchase, the insider now owns 12,118,088 shares of the company's stock, valued at approximately $101,549,577.44. The trade was a 0.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Sonos Stock Down 0.1%

Shares of NASDAQ:SONO traded down $0.01 during trading on Thursday, reaching $10.15. 703,747 shares of the company traded hands, compared to its average volume of 1,972,752. The company's 50 day moving average is $9.48 and its two-hundred day moving average is $12.16. Sonos, Inc. has a 52 week low of $7.63 and a 52 week high of $16.30. The firm has a market capitalization of $1.22 billion, a PE ratio of -17.80 and a beta of 2.06.

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