Captrust Financial Advisors Acquires Shares of 10,756 Sonos, Inc. (NASDAQ:SONO)

Captrust Financial Advisors bought a new stake in Sonos, Inc. (NASDAQ:SONO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,756 shares of the company’s stock, valued at approximately $162,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC lifted its position in Sonos by 4.2% during the fourth quarter. SG Americas Securities LLC now owns 40,839 shares of the company’s stock worth $614,000 after buying an additional 1,644 shares in the last quarter. 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 purchasing an additional 1,721 shares in the last quarter. Ironwood Investment Management LLC boosted its position in shares of Sonos by 4.0% during the 4th quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company’s stock worth $702,000 after acquiring an additional 1,782 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Sonos during the 4th quarter worth about $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Sonos during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Transactions at Sonos

In other news, major shareholder Coliseum Capital Management, L bought 147,157 shares of Sonos stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of $9.17 per share, for a total transaction of $1,349,429.69. Following the completion of the acquisition, the insider now owns 12,055,582 shares of the company’s stock, valued at $110,549,686.94. The trade was a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

SONO has been the subject of several analyst reports. Jefferies Financial Group reduced their price objective on Sonos from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Rosenblatt Securities lowered their price target on Sonos from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Sonos Stock Up 1.1%

SONO stock opened at $9.96 on Friday. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $16.34. The stock’s fifty day simple moving average is $9.72 and its 200-day simple moving average is $12.38. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -17.47 and a beta of 2.06.

Sonos declared that its Board of Directors has authorized a share buyback 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.