Sonos, Inc. (NASDAQ:SONO) Holdings Raised by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,654,074 shares of the company’s stock after acquiring an additional 351,057 shares during the period. Wellington Management Group LLP’s holdings in Sonos were worth $54,957,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Schroder Investment Management Group raised its stake in shares of Sonos by 0.7% during the 4th quarter. Schroder Investment Management Group now owns 3,025,290 shares of the company’s stock worth $45,591,000 after purchasing an additional 21,126 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Sonos by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,698,371 shares of the company’s stock valued at $25,544,000 after purchasing an additional 119,595 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of 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 valued at $25,134,000 after purchasing an additional 15,171 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Sonos by 9.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 960,187 shares of the company’s stock worth $14,441,000 after purchasing an additional 82,429 shares in the last quarter. Finally, 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 valued at $11,350,000 after buying an additional 504,293 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sonos Stock Performance

NASDAQ SONO opened at $8.60 on Friday. The stock has a 50-day simple moving average of $12.48 and a 200 day simple moving average of $13.19. Sonos, Inc. has a twelve month low of $7.95 and a twelve month high of $18.48. The stock has a market capitalization of $1.02 billion, a PE ratio of -15.09 and a beta of 1.98.

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

Sonos declared that its board has initiated a stock repurchase program on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board 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.