Schroder Investment Management Group Raises Stake in Sonos, Inc. (NASDAQ:SONO)

Schroder Investment Management Group lifted its position in shares of Sonos, Inc. (NASDAQ:SONO) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,025,290 shares of the company’s stock after buying an additional 21,126 shares during the period. Schroder Investment Management Group owned 2.51% of Sonos worth $45,591,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Sonos by 23.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,303,017 shares of the company’s stock worth $40,594,000 after purchasing an additional 626,172 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Sonos by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,698,371 shares of the company’s stock worth $25,544,000 after buying an additional 119,595 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Sonos by 0.9% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,671,113 shares of the company’s stock worth $25,134,000 after buying an additional 15,171 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Sonos by 9.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 960,187 shares of the company’s stock valued at $14,441,000 after buying an additional 82,429 shares during the period. Finally, Barclays PLC increased its stake in shares of Sonos by 120.3% during the 3rd quarter. Barclays PLC now owns 923,437 shares of the company’s stock valued at $11,350,000 after acquiring an additional 504,293 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities restated a “buy” rating and issued a $18.00 target price on shares of Sonos in a report on Friday, February 7th.

Sonos Price Performance

Shares of NASDAQ:SONO opened at $10.67 on Tuesday. The business has a 50-day moving average of $12.83 and a two-hundred day moving average of $13.26. The firm has a market capitalization of $1.27 billion, a PE ratio of -18.72 and a beta of 1.98. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.33.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.40 EPS 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%. As a group, research analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos declared that its board has approved a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually 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.