17,254 Shares in Sonos, Inc. (NASDAQ:SONO) Purchased by AXQ Capital LP

AXQ Capital LP purchased a new position in Sonos, Inc. (NASDAQ:SONO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 17,254 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in 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 acquiring an additional 626,172 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Sonos by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,698,371 shares of the company’s stock worth $25,544,000 after acquiring an additional 119,595 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Sonos by 0.9% during 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 acquiring an additional 15,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Sonos by 9.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 960,187 shares of the company’s stock worth $14,441,000 after acquiring an additional 82,429 shares during the period. Finally, Barclays PLC boosted its position in Sonos by 120.3% during the 3rd quarter. Barclays PLC now owns 923,437 shares of the company’s stock worth $11,350,000 after acquiring an additional 504,293 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Price Performance

Shares of Sonos stock opened at $11.71 on Monday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -20.54 and a beta of 1.98. Sonos, Inc. has a 52-week low of $10.23 and a 52-week high of $19.45. The stock has a 50-day simple moving average of $13.17 and a 200-day simple moving average of $13.27.

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

Sonos declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Rosenblatt Securities restated a “buy” rating and set a $18.00 price objective 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.