SG Americas Securities LLC Purchases 25,438 Shares of Sonos, Inc. (NASDAQ:SONO)

SG Americas Securities LLC lifted its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 62.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,277 shares of the company’s stock after purchasing an additional 25,438 shares during the period. SG Americas Securities LLC owned 0.06% of Sonos worth $707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Sonos by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 593,671 shares of the company’s stock worth $8,929,000 after purchasing an additional 20,397 shares in the last quarter. US Bancorp DE grew its stake in Sonos by 5.2% in the fourth quarter. US Bancorp DE now owns 43,722 shares of the company’s stock valued at $658,000 after acquiring an additional 2,153 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of 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. SBI Securities Co. Ltd. bought a new stake in Sonos during the fourth quarter worth $30,000. Finally, NBW Capital LLC raised its stake in shares of Sonos by 42.6% in the fourth quarter. NBW Capital LLC now owns 256,134 shares of the company’s stock valued at $3,852,000 after buying an additional 76,454 shares during the period. Institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Sonos

In related news, major shareholder Coliseum Capital Management, L acquired 147,157 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $9.17 per share, for a total transaction of $1,349,429.69. Following the completion of the purchase, the insider now directly owns 12,055,582 shares of the company’s stock, valued at approximately $110,549,686.94. The trade was a 1.24% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 861,251 shares of company stock valued at $8,454,123 over the last quarter. 1.80% of the stock is owned by company insiders.

Sonos Trading Down 0.2%

Shares of SONO opened at $9.91 on Friday. Sonos, Inc. has a 12 month low of $7.63 and a 12 month high of $15.89. The stock has a fifty day moving average price of $9.73 and a 200-day moving average price of $11.88. The firm has a market cap of $1.19 billion, a PE ratio of -16.80 and a beta of 2.06.

Sonos declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership 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.