65,000 Shares in Sonos, Inc. (NASDAQ:SONO) Purchased by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Sonos, Inc. (NASDAQ:SONO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 65,000 shares of the company’s stock, valued at approximately $978,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.05% of Sonos at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sonos by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,501 shares of the company’s stock valued at $1,030,000 after purchasing an additional 1,033 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Sonos by 4.2% during the 4th quarter. SG Americas Securities LLC now owns 40,839 shares of the company’s stock worth $614,000 after purchasing an additional 1,644 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Sonos by 191.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock valued at $39,000 after buying an additional 1,721 shares in the last quarter. Ironwood Investment Management LLC grew its holdings in Sonos by 4.0% during the 4th quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company’s stock valued at $702,000 after buying an additional 1,782 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Sonos during the fourth quarter worth $30,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Jefferies Financial Group reduced their price objective on Sonos from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Rosenblatt Securities reduced their target price on shares of Sonos from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L bought 62,506 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $8.38 per share, with a total value of $523,800.28. Following the completion of the transaction, the insider now owns 12,118,088 shares of the company’s stock, valued at approximately $101,549,577.44. The trade was a 0.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Sonos Stock Performance

Shares of SONO opened at $11.24 on Wednesday. Sonos, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $17.65. The company has a market capitalization of $1.34 billion, a PE ratio of -19.72 and a beta of 2.06. The stock has a fifty day moving average of $9.90 and a two-hundred day moving average of $12.50.

Sonos declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.