Sonos, Inc. (NASDAQ:SONO) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 270,542 shares of the company's stock after selling 29,712 shares during the quarter. Voya Investment Management LLC owned 0.22% of Sonos worth $4,069,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its holdings in Sonos by 120.3% during the third quarter. Barclays PLC now owns 923,437 shares of the company's stock worth $11,350,000 after purchasing an additional 504,293 shares in the last quarter. GAMMA Investing LLC lifted 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 valued at $61,000 after buying an additional 1,352 shares during the period. Diversified Trust Co boosted its stake in shares of Sonos by 10.6% in the fourth quarter. Diversified Trust Co now owns 45,607 shares of the company's stock valued at $686,000 after buying an additional 4,363 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Sonos by 5.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 41,701 shares of the company's stock worth $627,000 after acquiring an additional 2,320 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Sonos by 7,557.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company's stock worth $2,347,000 after acquiring an additional 154,011 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Sonos Stock Performance

NASDAQ SONO traded down $0.19 during trading hours on Wednesday, reaching $9.01. The company's stock had a trading volume of 366,043 shares, compared to its average volume of 1,938,678. The company's 50-day moving average is $10.17 and its two-hundred day moving average is $12.59. Sonos, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $18.02. The stock has a market cap of $1.07 billion, a PE ratio of -15.78 and a beta of 2.06.

Sonos (NASDAQ:SONO - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, beating 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%. Equities analysts expect that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Sonos announced that its board has approved a share repurchase program on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SONO. Jefferies Financial Group lowered their price target 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 reaffirmed a "buy" rating and issued a $18.00 target price on shares of Sonos in a report on Friday, February 7th.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 147,157 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were purchased at an average cost of $9.17 per share, with a total value of $1,349,429.69. Following the purchase, the insider now owns 12,055,582 shares in the company, valued at approximately $110,549,686.94. This represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.

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.