Landscape Capital Management L.L.C. Trims Stake in Sonos, Inc. (NASDAQ:SONO)

Landscape Capital Management L.L.C. lessened its holdings in Sonos, Inc. (NASDAQ:SONO) by 64.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,655 shares of the company’s stock after selling 179,266 shares during the period. Landscape Capital Management L.L.C.’s holdings in Sonos were worth $1,514,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Sonos in the 4th quarter worth about $30,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Sonos in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its stake in Sonos by 191.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock valued at $39,000 after purchasing an additional 1,721 shares in the last quarter. GAMMA Investing LLC lifted its position in Sonos by 50.1% during the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock valued at $61,000 after purchasing an additional 1,352 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Sonos in the 4th quarter worth approximately $84,000. Institutional investors own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

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.

Sonos Trading Down 3.4 %

Shares of NASDAQ SONO opened at $8.60 on Friday. The stock’s 50-day moving average is $12.48 and its 200 day moving average is $13.18. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -15.09 and a beta of 1.98. Sonos, Inc. has a 1-year low of $7.95 and a 1-year high of $18.69.

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

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