Mercer Global Advisors Inc. ADV Sells 8,168 Shares of Sonos, Inc. (NASDAQ:SONO)

Mercer Global Advisors Inc. ADV decreased its position in shares of Sonos, Inc. (NASDAQ:SONO) by 15.8% in the 4th quarter, Holdings Channel reports. The fund owned 43,664 shares of the company’s stock after selling 8,168 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Sonos were worth $657,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Freestone Grove Partners LP bought a new position in Sonos in the 4th quarter worth about $18,125,000. Barclays PLC boosted its position in shares of Sonos by 120.3% during the 3rd quarter. Barclays PLC now owns 923,437 shares of the company’s stock valued at $11,350,000 after acquiring an additional 504,293 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Sonos by 10.6% during the 4th quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company’s stock valued at $54,957,000 after acquiring an additional 351,057 shares during the last quarter. Norges Bank bought a new stake in shares of Sonos during the 4th quarter valued at about $4,322,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Sonos by 192.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 370,100 shares of the company’s stock valued at $5,566,000 after acquiring an additional 243,759 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

Insider Transactions at Sonos

In other Sonos news, major shareholder Coliseum Capital Management, L bought 62,506 shares of Sonos stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $8.38 per share, with a total value of $523,800.28. Following the acquisition, the insider now owns 12,118,088 shares in the company, valued at approximately $101,549,577.44. This trade represents a 0.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SONO. Jefferies Financial Group dropped their price target on Sonos from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Rosenblatt Securities dropped their price target on Sonos from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday.

Sonos Trading Up 6.0%

NASDAQ:SONO opened at $10.43 on Monday. The company has a 50-day moving average price of $9.97 and a 200-day moving average price of $12.52. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -18.30 and a beta of 2.06. Sonos, Inc. has a 12 month low of $7.63 and a 12 month high of $17.65.

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

Sonos declared that its board has authorized 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 reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board 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.