Sonos, Inc. (NASDAQ:SONO) Stock Position Lifted by NBW Capital LLC

NBW Capital LLC grew its position in shares of Sonos, Inc. (NASDAQ:SONO) by 42.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 256,134 shares of the company’s stock after buying an additional 76,454 shares during the period. NBW Capital LLC’s holdings in Sonos were worth $3,852,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in Sonos during the 3rd quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new position in Sonos during the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC raised its position in shares of 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 during the period. KBC Group NV raised its position in shares of Sonos by 52.5% during the 3rd quarter. KBC Group NV now owns 4,852 shares of the company’s stock worth $60,000 after purchasing an additional 1,670 shares during the period. Finally, GAMMA Investing LLC raised its position 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. Institutional investors own 85.82% of the company’s stock.

Sonos Trading Down 1.7 %

Shares of Sonos stock opened at $12.99 on Tuesday. The business’s 50 day simple moving average is $13.98 and its 200-day simple moving average is $13.25. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -22.79 and a beta of 1.97. Sonos, Inc. has a twelve month low of $10.23 and a twelve month high of $19.76.

Sonos (NASDAQ:SONO) last posted its 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 return on equity of 13.17% and a negative net margin of 4.73%. Sell-side analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos announced that its board has approved a stock repurchase plan on Monday, February 24th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

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.