Sei Investments Co. Has $4.54 Million Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

Sei Investments Co. lowered its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 301,983 shares of the company’s stock after selling 7,782 shares during the period. Sei Investments Co. owned about 0.25% of Sonos worth $4,542,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. NBW Capital LLC lifted its stake in Sonos by 42.6% in the 4th quarter. NBW Capital LLC now owns 256,134 shares of the company’s stock valued at $3,852,000 after purchasing an additional 76,454 shares during the last quarter. Barclays PLC increased its holdings in shares of Sonos by 120.3% during the third quarter. Barclays PLC now owns 923,437 shares of the company’s stock worth $11,350,000 after buying an additional 504,293 shares in the last quarter. Nisa Investment Advisors LLC increased 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. KBC Group NV lifted its stake in shares of 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Sonos by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,698,371 shares of the company’s stock valued at $25,544,000 after acquiring an additional 119,595 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Trading Up 0.3 %

Shares of SONO opened at $10.77 on Thursday. The stock has a 50 day moving average of $12.69 and a 200 day moving average of $13.24. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -18.89 and a beta of 1.98. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.33.

Sonos (NASDAQ:SONO) last released its earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. As a group, equities research analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos announced that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $18.00 target price on shares of Sonos in a research report on Friday, February 7th.

Sonos 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.