Geode Capital Management LLC Trims Holdings in Sonos, Inc. (NASDAQ:SONO)

Geode Capital Management LLC reduced its position in Sonos, Inc. (NASDAQ:SONO - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,787,486 shares of the company's stock after selling 32,970 shares during the quarter. Geode Capital Management LLC owned approximately 2.31% of Sonos worth $41,934,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SONO. GAMMA Investing LLC raised its stake in Sonos by 50.1% during the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after acquiring an additional 1,352 shares in the last quarter. SG Americas Securities LLC increased 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 worth $614,000 after purchasing an additional 1,644 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 valued at $39,000 after purchasing an additional 1,721 shares during the last quarter. Ironwood Investment Management LLC boosted its position in shares of 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 purchasing an additional 1,782 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Sonos in the 4th quarter valued at about $30,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sonos

In other news, major shareholder Coliseum Capital Management, L acquired 147,157 shares of the stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $9.17 per share, with a total value of $1,349,429.69. Following the completion of the transaction, the insider now directly owns 12,055,582 shares of the company's stock, valued at $110,549,686.94. The trade was a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SONO. 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 research note on Monday, April 7th. Rosenblatt Securities reissued a "buy" rating and issued a $18.00 target price on shares of Sonos in a report on Friday, February 7th.

Sonos Trading Up 4.8 %

SONO traded up $0.37 during midday trading on Friday, hitting $8.07. The company's stock had a trading volume of 2,171,572 shares, compared to its average volume of 1,929,575. The firm has a market cap of $961.00 million, a P/E ratio of -14.16 and a beta of 2.01. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $18.02. The firm has a 50-day moving average price of $11.10 and a two-hundred day moving average price of $12.85.

Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. On average, equities analysts expect that Sonos, Inc. will post -0.37 EPS for the current year.

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