Deutsche Bank AG Has $1.72 Million Stake in Sonos, Inc. (NASDAQ:SONO)

Deutsche Bank AG reduced its stake in Sonos, Inc. (NASDAQ:SONO) by 33.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,496 shares of the company’s stock after selling 57,654 shares during the quarter. Deutsche Bank AG owned 0.09% of Sonos worth $1,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Sonos by 120.3% in the 3rd quarter. Barclays PLC now owns 923,437 shares of the company’s stock valued at $11,350,000 after purchasing an additional 504,293 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Sonos by 7,557.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company’s stock worth $2,347,000 after buying an additional 154,011 shares in the last quarter. SG Americas Securities LLC raised its position in Sonos by 4.2% in the 4th quarter. SG Americas Securities LLC now owns 40,839 shares of the company’s stock valued at $614,000 after buying an additional 1,644 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Sonos by 115.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 82,203 shares of the company’s stock valued at $1,236,000 after acquiring an additional 44,053 shares in the last quarter. Finally, KBC Group NV lifted its stake in Sonos by 52.6% in the 4th quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $111,000 after acquiring an additional 2,551 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L purchased 62,506 shares of the business’s stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $8.38 per share, for a total transaction of $523,800.28. Following the completion of the purchase, the insider now directly owns 12,118,088 shares in the company, valued at $101,549,577.44. The trade was a 0.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SONO. Jefferies Financial Group decreased their price target on shares of 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 reduced their target price on shares of Sonos from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

Sonos Stock Performance

SONO opened at $9.69 on Friday. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $16.34. The firm has a market capitalization of $1.16 billion, a PE ratio of -17.00 and a beta of 2.06. The business’s 50-day simple moving average is $9.68 and its 200 day simple moving average is $12.36.

Sonos announced that its Board of Directors has initiated 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 purchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally 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.