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

Wellington Management Group LLP lifted its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,654,074 shares of the company’s stock after buying an additional 351,057 shares during the period. Wellington Management Group LLP owned 3.03% of Sonos worth $54,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Sonos during the 4th quarter worth approximately $30,000. Mountain Hill Investment Partners Corp. bought a new position in Sonos during the 4th quarter worth $31,000. Smartleaf Asset Management LLC grew its stake 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 buying an additional 1,721 shares during the last quarter. GAMMA Investing LLC increased its position in Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock worth $61,000 after buying an additional 1,352 shares during the period. Finally, KBC Group NV lifted its stake in Sonos by 52.6% in the fourth quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $111,000 after buying an additional 2,551 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analysts Set New Price Targets

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

Sonos Price Performance

SONO opened at $8.60 on Friday. The stock’s 50 day moving average price is $12.48 and its 200 day moving average price is $13.19. The stock has a market cap of $1.02 billion, a P/E ratio of -15.09 and a beta of 1.98. Sonos, Inc. has a 12 month low of $7.95 and a 12 month high of $18.48.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data 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 anticipate that Sonos, Inc. will post -0.37 EPS for the current year.

Sonos declared that its board has approved a share buyback plan on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are 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.