Sonos, Inc. (NASDAQ:SONO) Shares Sold by PDT Partners LLC

PDT Partners LLC lessened its stake in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,510 shares of the company's stock after selling 131,944 shares during the quarter. PDT Partners LLC owned approximately 0.12% of Sonos worth $2,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SONO. GAMMA Investing LLC raised its holdings in shares of Sonos by 50.1% in 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. SG Americas Securities LLC increased its position in Sonos by 4.2% during the 4th 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 increased its position in Sonos by 191.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock worth $39,000 after purchasing an additional 1,721 shares in the last quarter. Ironwood Investment Management LLC raised its holdings in Sonos by 4.0% in the fourth quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company's stock valued at $702,000 after buying an additional 1,782 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Sonos during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SONO. Rosenblatt Securities reissued a "buy" rating and issued a $18.00 price objective on shares of Sonos in a research report on Friday, February 7th. Jefferies Financial Group lowered their price target on Sonos from $19.00 to $13.00 and set a "buy" rating for the company in a report on Monday, April 7th.

Insider Transactions at Sonos

In related news, major shareholder Coliseum Capital Management, L purchased 147,157 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was acquired 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 owns 12,055,582 shares of the company's stock, valued at $110,549,686.94. This represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Sonos Stock Up 3.1 %

SONO opened at $9.45 on Wednesday. The firm's 50 day moving average is $10.53 and its 200-day moving average is $12.70. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $18.02. The firm has a market capitalization of $1.13 billion, a P/E ratio of -16.58 and a beta of 2.01.

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

Sonos declared that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors 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.

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