Sonos, Inc. (NASDAQ:SONO) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. reduced its position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 64.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,655 shares of the company's stock after selling 179,266 shares during the period. Landscape Capital Management L.L.C. owned approximately 0.08% of Sonos worth $1,514,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Sonos during the 4th quarter worth approximately $30,000. Mountain Hill Investment Partners Corp. purchased a new position in Sonos in the fourth quarter worth $31,000. Smartleaf Asset Management LLC lifted its holdings in Sonos by 191.2% in 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 during the period. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 1,352 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Sonos in the fourth quarter valued at about $84,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Insider Activity

In other Sonos news, major shareholder Coliseum Capital Management, L bought 62,506 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of $8.38 per share, for a total transaction of $523,800.28. Following the completion of the purchase, the insider now 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on SONO shares. Rosenblatt Securities restated a "buy" rating and set a $18.00 target price on shares of Sonos in a research report on Friday, February 7th. Jefferies Financial Group dropped their price objective on Sonos from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Monday.

Sonos Trading Down 7.7 %

Shares of SONO stock traded down $0.69 during trading hours on Thursday, hitting $8.29. The company's stock had a trading volume of 899,787 shares, compared to its average volume of 2,064,483. The business has a fifty day moving average of $11.95 and a 200-day moving average of $13.05. The stock has a market cap of $987.20 million, a price-to-earnings ratio of -14.54 and a beta of 2.01. Sonos, Inc. has a twelve month low of $7.72 and a twelve month high of $18.01.

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

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

About Sonos

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.